The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German airline Lufthansa has announced that it will cut 29,000 jobs worldwide by the end of 2020 and another 10,000 jobs in Germany in 2021.
In addition, the airline plans to sell the European business of the catering subsidiary LSG with 7,500 employees. The airline initiated negotiations around the restructuring programme with the local trade unions.
The restructuring programme is related to the COVID-19 pandemic and its impact on the air travel sector. The CEO of the company said they do not expect to see a recovery to pre-pandemic levels before 2025. The company has already used €3 billion of the €9 billion government bailout it secured earlier in the year.
Lufthansa is the largest German airline, and with its subsidiaries, also the largest airline in Europe, both in term of passengers carried and fleet size. It operates services to 18 domestic destinations and 197 international destinations in 78 countries across Africa, the Americas, Asia, and Europe, using a fleet of more than 270 aircraft. Lufthansa has 138,000 employees worldwide.
Eurofound (2020), Lufthansa, Internal restructuring in World, factsheet number 102892, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102892.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
