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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
300 jobs Number of planned job creations
Announcement Date
7 June 2018
Employment effect (start)
7 June 2018
Foreseen end date
31 December 2018
Description
Lithuanian retailer Maxima LT announced plans to create more than 300 new jobs across different regions of Lithuania by the end of 2018. According to the management, the company plans to further expand and will open several new stores in Lithuania in 2018. However, the company is experiencing the shortage of employees and has introduced a new incentive-based system which will cost around €3 million per year. After the introduction of the new system, more employees will have the opportunity to receive bonus payments in addition to their basic salary. It is expected that the new system will help to retain staff in the long-run.
Currently Maxima LT owns 244 retail chains in Lithuania which employ 15,337 people. Maxima retail chain is operating in Lithuania, Latvia, Estonia, Poland and Bulgaria.
Sources
7 June 2018: Verslo zinios
Citation
Eurofound (2018), Maxima LT, Business expansion in Lithuania, factsheet number 94277, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94277.
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