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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
142 jobs Number of planned job losses
Announcement Date
8 August 2012
Employment effect (start)
Foreseen end date
31 July 2012
Description
Bankruptcy Administrator of AB Bankas Snoras confirmed that a further 142 employees of the bank were made redundant on 31 July 2012 as a result of the ongoing downsizing of Snoras' operations (see factsheet 19552).
As of 1 August 2012, 205 employees remained working at the bank.
Since the commencement of bankruptcy proceedings on 7 December 2011, the total number of dismissals has reached 1,192. According to the management, these redundancies contributed to substantial savings by the company.
Sources
8 August 2012: Verslo zinios
Citation
Eurofound (2012), Snoras, Internal restructuring in Lithuania, factsheet number 74104, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74104.
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