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.
Adminstrative / Support 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
350 jobs Number of planned job losses
Announcement Date
5 August 2004
Employment effect (start)
Foreseen end date
Description
Britain's leading internet travel company, Lastminute.com, revealed that its pre-tax losses had increased by 39% to £16.9 million in the three months to June of 2004 as it absorbed the cost of a series of acquisitions. Lastminute announced that it intended to slash 350 jobs, amounting to 15% of its workforce, and planned to close 10 of its 25 offices in an attempt to get its costs under control.
Sources
5 August 2004: The Financial Times
6 August 2004: The Guardian
Citation
Eurofound (2004), Lastminute.com, Internal restructuring in United Kingdom, factsheet number 60488, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60488.
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