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.
Vipps MobilePay, a Norwegian-headquartered mobile payment company, announced that it will close its Vilnius branch with 100 employees by the end of May this year. Currently, the company manages four technology centres in Oslo, Aarhus, Copenhagen and Vilnius. The management team of Vipps MobilePay decided to reduce the number of branches to three. This decision is not related to the efforts or results of Vilnius branch employees and is part of a broader organizational strategy, which aims to simplify and create a stronger company structure. The company has reportedly agreed on a partnership with Danske Bank in Lithuania, which will offer more than 40 Vipps MobilePay employees jobs with equivalent responsibilities and wages to what they currently have at Vipps MobilePay. For other employees, Vipps MobilePay is committed to providing comprehensive support, including cooperation with recruitment agencies and a faster application and candidate assessment process for all open positions at Danske Bank Lithuania.
Eurofound (2024), Vipps MobilePay Lithuania, Closure in Lithuania, factsheet number 201226, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201226.