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.
At the end of September, Lietuvos pastas (Lithuanian Post), the state-owned company operating in the whole country, has announced plans to reorganise its network of letter-carriers. As part of the network efficiency transformation, the company is going to reduce its workforce by approx. 400 employees by the spring 2024. The main reason for this decision is the decreasing demand for traditional postal services and changing mailing preferences of customers.
This change has been made in consultation with employees’ representatives and taking into account their comments. The company plans to allocate a sum of around €800,000 for severance payments of the redundant employees. Moreover, the company's HR specialists will offer to these employees professional advice on job search issues.
Lithuanian Post is undergoing internal restructuring for more than ten years. Currently, 2,982 employees are working in the Lithuanian Post, compared to 3,260 a year ago, and to 8,000 in 2009 (Lietuvos pastas-2009-68634).
Eurofound (2023), Lietuvos pastas, Internal restructuring in Lithuania, factsheet number 200359, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200359.