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.
Danish-capital furniture manufacturing company Theco Furniture is to dismiss 87 employees in Alytus. According to the management, the main cause of the dismissals is the quarantine regime in Lithuania. Such information was provided by the Lithuanian Employment Service. To control the spread of coronavirus (COVID-19), the Lithuanian Government declared quarantine on the entire territory of the Republic of Lithuania as of 16 March 2020.
Currently Theco Furniture employs 709 employees. Furniture production was relocated from Denmark to Lithuania in 2006. The company is exporting their products to more than 50 countries worldwide.
Eurofound (2020), Theca Furniture, Internal restructuring in Lithuania, factsheet number 100119, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100119.