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
250 jobs Number of planned job losses
Announcement Date
11 December 2003
Employment effect (start)
Foreseen end date
Description
The Cit group operates in 18 countries and has an annual turnover of some EUR 480 million. The group has implemented in recent months a significant restructuring plan with a view to improve the financial and economic situation. The group network has been reduced through the closure of 25 travel agencies. The reorganisation plan includes 250 redundancies, 105 of which in Italy.
Eurofound (2003), Compagnia Italiana Turismo (Cit), Internal restructuring in World, factsheet number 59569, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59569.
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