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.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency And Tour Operator Activities 79.1 - Travel agency and tour operator activities
253 jobs Number of planned job losses
Announcement Date
17 December 2020
Employment effect (start)
17 December 2020
Foreseen end date
Description
As announced on 17 December 2020, German tour operator DER Touristik will be cutting 253 jobs due to internal restructuring. According to management, the massive travel restrictions caused by the COVID-19 crisis have led to a reduction in sales by 70% in 2020. Since a recovery of the market to a pre-COVID-19 level is not expected for 2021, cuts are inevitable. 253 jobs will be cut in all areas of the company including 14 in management positions. Affected sides will include the company's two main sites in Frankfurt and Cologne. While a timeframe has yet to be published, management intends to achieve the job reduction via voluntary programmes.
DER Touristik has currently 1,422 employees in Germany.
17 December 2020: Kölner Stadtanzeiger (online) (www.ksta.de)
Citation
Eurofound (2020), DER Touristik, Internal restructuring in Germany, factsheet number 102919, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102919.
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.
