Restructuring events
European Restructuring Monitor (ERM)
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.
As announced on 7 December 2020, the German trade fair operator Messe München will be cutting 170 jobs due to internal restructuring until the end of 2022. The job reduction is necessary due to the cancellation of events in 2020 caused by the COVID-19 crisis. The job reduction will be spread over the next two years and will be as socially acceptable as possible with compulsory redundancies, when possible, being avoided. All branches are going to be affected. While 2019 Messe München had €400 million in sales, this value decreased to €90 million in 2020. Messe München expects that its recovery to a pre COVID-19 level will take three to four years.
Messe München has currently 1,200 employees.
Eurofound (2020), Messe München, Internal restructuring in Germany, factsheet number 102915, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102915.