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.
The Scandinavian Airline company SAS, jointly owned by the states of Sweden, Norway and Denmark, announced 12 August 2009 that due to SAS's ongoing crisis, its staff will be reduced by 1,000-1,500 employees. It is not yet known which groups of personnel will be affected by this job reduction, nor is it known how many persons the reductions will involve from each country. At the same time the management of SAS proposes a wage decrease of 10-20% - a proposal the employees' trade unions so far have refused. The layoff is part of a new cost reducing program to generate sustainable competitiveness. According to the press release SAS will have to save 2 billion SEK (195 million EUR).
Eurofound (2009), Scandinavian Airlines System International (SAS), Internal restructuring in European Union, factsheet number 69465, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69465.