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 LTG Infra responsible for the Lithuania's railway network infrastructure, safety, modernisation, and development is to dismiss around 500 employees in different Lithuanian regions (mainly Vilnius, Kaunas, Klaipeda, Siauliai, Radviliskis). LTG Infra is a subsidiary of the state-owned railway company Lietuvos Gelezinkeliai that is currently undergoing a restructuring process. According to the management, Lietuvos Gelezinkeliai is set to lose around €150 million in revenue in 2022 because of the decrease in cargo volumes due to the EU and US sanctions on Russia and Belarus following the war in Ukraine. The company consulted trade unions when planning redundancies. Together with the Employment Service, Lietuvos Gelezinkeliai has planned an employee assistance package for the dismissed employees. Around €6 million will be allocated for severance payments to the dismissed employees from different subsidiary companies of Lietuvos Gelezinkeliai.
LTG Infra is a subsidiary company of Lietuvos gelezinkeliai that is responsible for renovation and upgrading of the rail infrastructure in Lithuania. Currently the company employs 2,920 employees in Lithuania.
Eurofound (2022), LTG Infra, Internal restructuring in Lithuania, factsheet number 106702, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106702.
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