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.
TEO LT, one of the largest telecommunications companies in Lithuania, intends to dismiss around 100 employees from their central office in Vilnius by the end of September 2015. According to the management, the main cause of dismissals is an attempt to reduce internal bureaucracy and administrative costs. Nevertheless, the company intends to strengthen their position on the market by employing 30 high-skilled IT specialists. Currently TEO LT employs 1,906 employees.
Eurofound (2015), TEO LT, Internal restructuring in Lithuania, factsheet number 84526, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84526.