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 poultry meat producer Kaisiadoriu paukstynas is to dismiss about 200 employees in Kaisiadorys. Some of the work is being moved to another poultry farm in Vilnius. The reason behind the dismissals is related to the increase in feed and energy prices.
Poultry farms were already heavily hit by the COVID-19 pandemic and now, according to the management, the farm pays twice as much for electricity and five times as much for gas as compared to the previous year. Moreover, as a result of the war in Ukraine, the price of wheat increased from €150 to around €420 per tonne. Current production levels are no longer sustainable, and the company is to cut production by one-fifth, therefore dismissing 200 employees.
Kaisiadoriu paukstynas is one of the largest poultry meat-producing companies in Lithuania. It employs 629 employees in Kaisiadorys. Kaisiadoriu packstones belongs to the KG Group which comprises the cereal-producing company Kauno Grudai, Vilnius and Kaisiadorys poultry farms, and subsidiary companies.
Eurofound (2022), Kaisiadoriu paukstynas, Internal restructuring in Lithuania, factsheet number 106444, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106444.