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.
On 17 June 2010, the Public Transport Company Rigas satiksme announced an internal restructuring plan which led to 175 job losses, including 15 middle level management positions. The job cuts were implemented on 1 November 2010. The decision to start internal restructuring was made after the audit company PricewaterhouseCoopers has submitted a full report with recommendations to the board on a strategy which should generate an annual saving of LVL 1,2 million (around EUR 1,7 million). The report also involved suggestion on optimizing the company's structure and workflow.
Eurofound (2010), RÄ«gas Satiksme, Internal restructuring in Latvia, factsheet number 71619, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71619.