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.
One of the biggest Lithuanian beer brewing companies Svyturys-Utenos alus is to dismiss 40 employees by 1 March, 2017. The company is undergoing internal restructuring procedures and has already dismissed 20 employees at the beginning of 2017. In addition, 20 more employees were given notices of termination of the contract and will be laid off by the beginning of March, 2017. Currently the company employs 397 employees.
According to the management, the main cause of the dismissals is the increase in excise duty on alcohol in Lithuania as of 1 March, 2017.
Svyturys-Utenos alus has already started consultations with the trade union representatives in the company. According to the management, the company will hire professional consultants for redundant employees to assist them in finding a new job and will pay for voluntary health insurance for one year.
Eurofound (2017), Svyturys - Utenos Alus, Internal restructuring in Lithuania, factsheet number 90266, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90266.
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