Restructuring events
European Restructuring Monitor (ERM)
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.
Lithuanian public railway company Lietuvos gelezinkeliai is to dismiss 300 employees in Vilnius by the end of 2017. The company is currently undergoing restructuring procedures and intends to reduce the number of employees in the administration by 25%. This is one of the eight restructuring stages that Lietuvos gelezinkeliai intends to implement. According to the management, the main cause of dismissals is an attempt to eliminate the duplication of functions and save around €9 million of budget funds. Currently the company employs 9,384 employees (1,200 of them are employed in administration).
Eurofound (2017), Lietuvos gelezinkeliai, Internal restructuring in Lithuania, factsheet number 91158, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91158.