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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
300 jobs Number of planned job creations
Announcement Date
5 April 2017
Employment effect (start)
5 April 2017
Foreseen end date
5 April 2020
Description
German supplier of pneumatic and electrical automation technology Festo is expanding its activities in Lithuania and will create around 300 new jobs in its service centre in Kaunas by April 2020. Currently the company employs 270 employees. The management of the company announced the intention to double the number of employees over the next three years. Festo plans to employ specialists in the fields of finance, IT, document management, marketing and engineering.
Festo group has over 250 branch offices and employs around 18,700 employees globally.
Sources
5 April 2017: Verslo zinios
Citation
Eurofound (2017), Festo, Business expansion in Lithuania, factsheet number 90643, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90643.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
