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.
Daugavpils locomotive repair plant, a Latvian railway maintenance firm, announced the collective layoff of 240 employees at its main facility in Daugavpils. The cuts will commence on 28 March and are expected to conclude by 31 May.
The decision follows significant financial pressure caused by the war in Ukraine and related sanctions that curtailed the company’s market access and contractual obligations, forcing a reduction of staff to preserve viability. The restructuring focuses solely on workforce reductions within the existing plant and the company remains open to future support from state institutions.
Eurofound (2022), Daugavpils lokomotīvju remonta rūpnīca, Internal restructuring in Latvia, factsheet number 301077, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301077.
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