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.
Europe's largest tourism group, TUI, confirmed plans to cut its UK workforce by 8%, with the loss of 800 jobs by the end of the year. The job losses are expected across the group's Lunn Poly travel agency, Thomson tour operator and Britannia airline divisions. TUI plans to rebrand its Britannia and Thomson fleet of aircraft as Thomsonfly and has promised to invest in extra planes and refurbishment. The group is struggling to keep pace with changes in holiday booking patterns, as customers are increasingly abandoning high street travel agencies in favour of the internet, television and telephone.
Eurofound (2004), TUI, Internal restructuring in United Kingdom, factsheet number 60540, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60540.