TEO LT

Type
Internal restructuring
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Vilnius
Sector
Information / Communication
Information Communication Services
Telecommunications
61.1 - Wired telecommunications activities
100 jobs
Number of planned job losses
Job loss
30 jobs
Number of planned job creations
Job creation
Announcement Date
25 August 2015
Employment effect (start)
25 August 2015
Foreseen end date
30 September 2015

Description

TEO LT, one of the largest telecommunications companies in Lithuania, intends to dismiss around 100 employees from their central office in Vilnius by the end of September 2015. According to the management, the main cause of dismissals is an attempt to reduce internal bureaucracy and administrative costs. Nevertheless, the company intends to strengthen their position on the market by employing 30 high-skilled IT specialists. Currently TEO LT employs 1,906 employees.  

Sources

  • 25 August 2015: Verslo zinios

Citation

Eurofound (2015), TEO LT, Internal restructuring in Lithuania, factsheet number 84526, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84526.