Lietuvos gelezinkeliai

Type
Internal restructuring
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Vilnius
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49.2 - Freight rail transport
300 jobs
Number of planned job losses
Job loss
Announcement Date
9 June 2017
Employment effect (start)
9 June 2017
Foreseen end date
31 December 2017

Description

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).

Sources

  • 9 June 2017: Verslo zinios

Citation

Eurofound (2017), Lietuvos gelezinkeliai, Internal restructuring in Lithuania, factsheet number 91158, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91158.