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 company Teltonika which produces electronic and Internet of Things devices is to create around 100 new jobs in Vilnius in 2020. Teltonika is quickly expanding in Lithuania. The number of employees at the company has grown from 650 to 960 since the beginning of the year 2020. The company is looking for programmers, engineers, managers and other staff. The company offers good working conditions and pays high salaries to its employees. According to the management, wages in Teltonika are growing on average by 30% annually. Furthermore, Teltonika has plans to establish the Teltonika High Tech Hill building complex in Lithuania and to create around 2,000 new jobs by 2024.
Teltonika was established in Lithuania in 1998. Currently it manages 4 different companies: Teltonika Telematics, Teltonika Networks, Teltonika EMS, and Teltonika Telemedic. More than 1,200 employee are working in the Teltonika group of companies. The companies are operating in Vilnius and Kaunas.
Eurofound (2020), Teltonika, Business expansion in Lithuania, factsheet number 102599, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102599.
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