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.
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.
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.
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