Type
Internal restructuring
Country
Lithuania
Region
Lietuva;
Location of affected unit(s)
Sector
Agriculture
Agriculture, Forestry And Fishing
Crop And Animal Production, Hunting And Related Service Activities
01 - Crop and animal production, hunting and related service activities

320 jobs
Number of planned job losses
Job loss
Announcement Date
25 March 2009
Employment effect (start)
25 March 2009
Foreseen end date

Description

On 25 March 2010 agricultural company 'Agrowill group' announced internal restructure plan involving 320 redundancies. The total workforce of 800 people will be shredded by 40% and the managerial wages will be reduced by 15%. The mass redundancy measurements were introduced because of 7.4 million Litas (2.15 million Euro) financial loss the company had in 2008.


Sources

Citation

Eurofound (2009), Agrowill group, Internal restructuring in Lithuania, factsheet number 71223, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71223.