EMCC European Monitoring Centre on Change

WIZZ Air

Company/Organisation:
WIZZ Air

Geographic Location

Country: World

Company

Sector: Transportation / storage
Transportation and storage
51.1 - Passenger air transport
Number Employed: 5200
Group: Wizz Air Group

Employment Effects

Announcement Date: 14-04-2020
Planned Job Reductions min: 1000
Type of Restructuring: Internal restructuring
Employment Effect Start: 14-04-2020
Foreseen End Date: 30-04-2020

Additional Information

The Hungary based airline Wizz Air Group will reduce its global workforce by 1,000, that is, about 19% of its staff, as a response to the near-total stop of passenger flights caused by the COVID-19 emergency. The company will also reduce wages by 14-22%. Many employees will be put on unpaid leave.

There is no information, so far, about how many employees and in which locations will be affected by the global restructuring. In Hungary, where the company is based, according to the legislation, employers must consult with the works council in case of a mass layoff. But there is neither a works council, nor a trade union at Wizz Air.

At present, the firm operates at only 3% of its capacity, and this is partly due to the operation of some cargo flights, something the firm has never done before. The company’s financial standing is stable, thanks to its ample liquidity reserves. The management remains confident about the longer-term prospects of the company.

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