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 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.
Eurofound (2020), DER Touristik, Internal restructuring in Germany, factsheet number 102919, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102919.