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, subsidiary of German air transport company Lufthansa, intends to cut 700 jobs at its site in Hamburg. For the past months, the company was negotiating these job cuts with employee representatives. Lufthansa Technik wants to carry out staff reductions per natural fluctuation, cancellation agreements and partial retirement. According to the company, restructuring measures have become necessary due to increasingly fierce competition. Moreover, the company wants to replace its shift system from two shifts to three shifts and reduce wages. The management emphasises that Lufthansa Technik wants to ensure the future of the site.
Lufthansa Technik, headquartered in Hamburg, currently employs 20,085 staff worldwide.
Eurofound (2016), Lufthansa Technik, Internal restructuring in Germany, factsheet number 88193, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88193.