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.
On 10 June 2016, Lufthansa Cargo, one of the biggest cargo airlines throughout Europe, announced plans to cut 500 jobs in Germany by the end of 2017. A total of 800 jobs will be cut worldwide. Mostly affected are jobs in administration and the ground handling units. The sector is suffering from overcapacities and fierce competition and the company expects to save €80 million per year through this restructuring. The management emphasises the importance of socially acceptable restructuring measures and dismissals due to operational reasons are to be avoided.
Lufthansa Cargo, subsidiary of Lufthansa and headquartered in Frankfurt, currently employs 4,600 staff in Germany. These are the fifth job cuts at Lufthansa since 2012 (see 05.2012, 01.2013, 10.2013 and 06.2016)
Eurofound (2016), Lufthansa Cargo, Internal restructuring in Germany, factsheet number 87723, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87723.