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.
Swedish bank Swedbank has announced its intention to dismiss around 110 employees in Lithuania by the end of 2011.
According to the management the main cause for the dismissals is the reduced need of human resources for crisis management as well as new capital requirements. The Swedish Government plans to increase the capital requirements beyond what is required by international banking guidelines to ensure financial stability following Europe's debt crisis.
Swedbank announced that the company will lay off around 300 employees in Sweden (see here) and around 300 in the Baltic countries.
Currently Swedbank employs around 2,200 people in Lithuania.
Eurofound (2011), Swedbank, Internal restructuring in Lithuania, factsheet number 72819, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72819.
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