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.
Rigas Siltums has started the expected mass lay-off procedure. On 17 October 2017, Rigas Siltums announced that the company could lay off up to 230 employees in spring 2018. On 4 February 2018 first 53 employees have been dismissed, with another 119 lay-offs planned to take effect within a month.
The company has managed Riga heating systems for the last 20 years uncontested. It serves more than 2,800 houses, supplying heat and maintaining heating systems. Total number of staff in the company is about 900.
Several years ago, the State Audit Office ruled that Rigas Namu Parvaldnieks, the municipal housing authority, has to select its heating supplier via a public procurement. Procurement procedure was launched, and as a result a team of four local firms was chosen to supply the city with heat for a five year deal. Rigas siltums' application was found not to comply with the regulations of RNP. According to representatives of Rigas Siltums, the company provides support for dismissed employees in finding new job.
Eurofound (2018), RÄ«gas Siltums, Internal restructuring in Latvia, factsheet number 93219, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93219.
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