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.
The state-owned company JSC Latvijas Dzelzceļš, the largest rail cargo company in Latvia, plans to dismiss 700 employees. Due to the pandemic, nearly 1,300 employees of the company were already dismissed in 2020.
Prior to the public announcement, the Latvian Railway and Traffic worker Trade Union (LDzSA) said that the company had begun negotiations with the union.
Redundancies will take place in two stages. 200 employees are scheduled to be dismissed in September-October, mainly from administration and support staff. Further consultations with the National Railway Technical Inspectorate and the trade union are planned around the dismissal of another 500 employees, mainly blue-collar workers.
“When assessing and optimizing the administrative and support functions of the company, as well as technological processes, a decision has been taken to reduce the number of employees of the Latvian Railway State JSC by the end of the year by approximately 700 employees,” the company statement says.
Eurofound (2021), Latvijas Dzelzceļš, Internal restructuring in Latvia, factsheet number 105190, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/105190.
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