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.
Road and highway construction company Žemaitijos keliai, registered in Telšiai, on April 27 informed Public Employment Service regarding the expected group dismissal of employees. The company is undergoing a bankruptcy procedure and is dismissing all its 128 employees. In 2019 a restructuring procedure was initiated for the company. However in February 2023 the restructuring procedure was terminated as it became clear that the restructuring plan was not feasible.
Žemaitijas keliai reported the dismissal of machinists and mechanists (39), road workers (37), drivers (26), administrative workers (6), repairmen (6), heads of units (4) and other employees. The company is a subsidiary of one of the country's largest road and bridge construction companies Šiaulių plentas, which is also currently undergoing restructuring.
Updated, 22/05/2023: After Žemaitijos keliai reported that they were going to lay off 128 employees, the transport infrastructure company Fegda Group announced that it is ready to re-hire them all. According to the CEO of Fegda Group, their companies Fegda and Tilsta are implementing large scale Rail Baltica and Via Baltica projects and are working all over Lithuania, including in the Telšiai region. Therefote they ensure that they can hire any worker who is willing to work for them.
Eurofound (2023), Zemaitijos keliai, Bankruptcy in Lithuania, factsheet number 109045, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/109045.
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