Groundforce’s preliminary bankruptcy plan includes layoffs of about 300 workers within two years of approval, among a series of measures, according to a document that Lusa had access to.
The document, which is due to be voted on later this month, follows Menzies Aviation’s agreement to join Groundforce and contains a “termination plan” that justifies these layoffs.
“To ensure that SPdH (Groundforce) maintains a staffing structure adequate to its needs, the company will facilitate the reduction of effective workers by terminating employment contracts indefinitely, preferably by mutual agreement, of approximately 300 workers,” according to a document from bankruptcy trustees.
Such reduction of “effective employees through termination of employment contracts must occur within a settlement period of two years after the date of the final and non-appealable decision to approve this insolvency plan”, and the company will require “a statement that it is in a difficult economic situation.”
In addition, “the level of investment that needs to be increased in the company in order to ensure the renewal of licenses in 2025 and guarantee the maintenance of activities in a competitive market requires that part of the issues and conditions that are regulated in the Agreements be reviewed and modified by de Empresa,” emphasizes in the document.
The document also states that 9.5 million euros will be invested “in measures to restructure human resources”, namely “in a plan for the termination of employment contracts”, in “revision of company contracts” and “in other ongoing measures”.
In 2021, TAP filed for bankruptcy at Groundforce, in a process whose preliminary list of creditors at the time indicated about €154 million in debt.
Subsequently, according to the plan, recognized debts amounted to 136.2 million euros.
The largest lenders are TAP and ANA – Aeroportos de Portugal with 15.5 million euros in loans and 12.8 million euros respectively.
Menzies predicts an initial investment in Groundforce of 12.5 million euros. ??
Author: Portuguese
Source: CM Jornal
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