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.
Olego transportas, the transportation company operating under the brand Ollex, dismissed around 40 employees in Vilnius in the period from 15 March 2020 to 3 April 2020. The number of employees in the company decreased from 267 to 227. The company offers a wide range of transportation services, including passenger car rental, bus rental, the transportation of passengers on special routes from cities to airports, small freight transportation, etc.
The main cause of the dismissals is the quarantine regime in Lithuania. 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. Due to the quarantine regime, many transportation companies temporarily suspended their operations in Lithuania.
Eurofound (2020), Olego transportas, Internal restructuring in Lithuania, factsheet number 100187, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100187.