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.
Lufthansa Technik, the subsidiary of German air transport company Lufthansa, intends to cut 650 positions in Germany until the end of 2014. Out of these, 400 shall be cut in Hamburg. The job cuts result from cost efficiency considerations. It is reported that they are neither linked to the Lufthansa restructuring programme, nor are they due to any decrease in profits. At the same time, Lufthansa Technik is opening a new hub in Bulgaria (see here).
In the long run, Lufthansa Technik's headquarter in Hamburg shall be strengthened by focusing on cost intensive maintenance provisions. The planned job cuts will be implemented by 2014 and affect the HR department, controlling, the purchasing and sales department, research and development.
Lufthansa Technik employs a staff of 8,000 in Hamburg and 13,000 people in total in Germany.
Eurofound (2013), Lufthansa Technik, Internal restructuring in Germany, factsheet number 74882, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74882.