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 27.51 - Manufacture of electric domestic appliances
70 jobs Number of planned job losses
Announcement Date
26 September 2019
Employment effect (start)
26 September 2019
Foreseen end date
31 December 2019
Description
Snaige, a Lithuanian company producing refrigerators and freezers, intends to dismiss 70 employees in Alytus by the end of 2019. Currently the company employs 546 employees. The main cause of the dismissals is an internal restructuring of the company. Snaige is seeking to optimise production and the number of management staff since the production volumes have declined by 6% as compared to last year. One of the main reasons for such a decline was the financial difficulties of a large French customer.
Sources
Citation
Eurofound (2019), Snaige, Internal restructuring in Lithuania, factsheet number 98630, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98630.
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