Yazaki Wiring Technologies Lietuva

Type
Internal restructuring
Country
Lithuania
Region
Lietuva; Vidurio ir vakarų Lietuvos regionas ; Klaipėdos apskritis
Location of affected unit(s)
Klaipeda
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27 - Manufacture of electrical equipment
27 - Manufacture of electrical equipment
150 jobs
Number of planned job losses
Job loss
Announcement Date
2 February 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

One of the biggest companies in Klaipėda, Yazaki Wiring Technologies Lietuva, plans to cut 150 jobs by the end of the year 2009.

The company, which placed its hopes for a recovery on producing wiring trucks for Volvo, is now planning a drastic cut in its production and further dismissals.The sales of the company dropped by 33% to 50 million LTL in 2008. The management of the company anticipates a further decline to 20 million LTL in 2009.

Yazaki Wiring Technologies Lietuva has already slashed its workforce to 500 people, down from 950 in October, 2008. 

Sources

  • 2 February 2009: Verslo zinios

Citation

Eurofound (2009), Yazaki Wiring Technologies Lietuva, Internal restructuring in Lithuania, factsheet number 68353, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68353.