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.
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Warehousing And Support Activities For Transportation 52.23 - Service activities incidental to air transportation
500 jobs Number of planned job losses
Announcement Date
7 April 2020
Employment effect (start)
1 June 2020
Foreseen end date
1 June 2020
Description
State JSC RÄ«ga International Airport has started negotiations with trade unions on collective redundancy affecting 500 employees. The collective redundancy process will end on June 1. Until then, all airport employees will remain in place. In cooperation with the Ministry of Transport the airport's management has worked out and submitted to the government detailed proposals for government support measures to keep the company going and ensure its operations in the long term. The company also emphasizes that any airport employee affected by the redundancies can expect to return to work as soon as the crisis is over and the aviation industry and airport resume operations.
Due to the crisis caused by the COVID-19 pandemic, Latvia declared emergency state. As a consequence, Riga international Airport has suspended nearly all operations and has introduced cost saving measures. It plans to cut investments by 85% and operating expenditures by 60%.
State JSC RÄ«ga International Airport currently employs 1,200 employees.
Sources
7 April 2020: Public broadcasting of Latvia (eng.lsm.lv)
Eurofound (2020), RÄ«ga International Airport, Internal restructuring in Latvia, factsheet number 100225, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100225.
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