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, Tour Operator And Other Reservation Service And Related Activities 79 - Travel Agency, Tour Operator And Other Reservation Service And Related Activities
700 jobs Number of planned job losses
Announcement Date
2 September 2024
Employment effect (start)
1 September 2024
Foreseen end date
1 September 2024
Description
As announced on 2 September 2024, the insolvent travel company FTI is now being wound down. The company is laying off 700 of its 1,400 employees in Germany.
Around 600 employees will receive their termination notices, taking effect in retrospect on 1 September 2024. The remaining 100 staff will stay with the company for a short time to help wind it down. The other half of the 1,400 employees in Germany were able to keep their jobs through the sale of FTI subsidiaries or by moving to other travel providers.
FTI has debts of 1 billion euros and filed for insolvency in June 2024.
Eurofound (2024), FTI Touristik, Bankruptcy in Germany, factsheet number 201547, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201547.
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.
