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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.1 - Preparation and spinning of textile fibres
374 jobs Number of planned job losses
Announcement Date
20 May 2005
Employment effect (start)
1 June 2005
Foreseen end date
31 December 2005
Description
Alytaus tekstilė, a cotton textile manufacturer located in Alytus, intends to dismiss 374 employees by the end of 2005. The main reasons for the internal restructuring were the lack of current asset and the decreasing volume of production. According to the management, 136 employees will be dismissed by the end of August 2005 and the rest - by the end of December 2005.
Sources
20 May 2005: Lithuanian Labour Exchange (www.ldb.lt)
Citation
Eurofound (2005), Alytaus Tekstilė, Internal restructuring in Lithuania, factsheet number 61684, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61684.
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