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.
All Portuguese location units: Faro, Lisbon, Porto, Porto Santo, Funchal
Sector
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Warehousing And Support Activities For Transportation 52.24 - Cargo Handling
300 jobs Number of planned job losses
Announcement Date
4 September 2023
Employment effect (start)
4 September 2023
Foreseen end date
4 September 2025
Description
Groundforce, a subsidiary of TAP Portugal that provides aircraft handling services within the country, has faced insolvency and is undergoing a restructuring process. The insolvency plan includes several measures, among which the termination of employment contracts for approximately 300 employees within a two year period following the approval of the plan.
In an official statement, the insolvency administrators guaranteed that the recovery plan fully respects the rights of the workers.
The company is owned by TAP and Ana-Aeroportos de Portugal. The plan also foresees that, in the initial phase, TAP will remain a shareholder in the handling company (with 49.9% of the capital) and the rest of the capital will fall to Menzies Aviation.
Eurofound (2023), Groundforce, Internal restructuring in Portugal, factsheet number 200347, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200347.
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.
