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.
Hotel / Restaurants Accommodation And Food Service Activities Accommodation 55.1 - Hotels and similar accommodation
425 jobs Number of planned job losses
Announcement Date
24 November 2020
Employment effect (start)
Foreseen end date
Description
Svenska Mässan Gothia Towers, a Swedish exhibition and congress centre group, plans to cut 100 jobs in Gothenburg, Western Sweden. In addition to the 100 planned job cuts, 325 employees lost their jobs earlier this year as a result of the notice of redundancy that was given in March 2020.
According to the CEO of the company, restructuring is necessary due to the decrease turnover caused by the COVID-19 pandemic. The pandemic has prompted the company to cancel any physical fairs until May 2021. In addition, the company’s hotel business has been hit hard. The hotel occupancy rate for Gothia Towers is currently down to 10-15%, a level similar to the spring of 2020.
The company is located close to the city centre in Gothenburg and employs of 925 people.
Eurofound (2020), Svenska Mässan Gothia Towers, Internal restructuring in Sweden, factsheet number 102893, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102893.
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