Latvija; Kurzeme;
Location of affected unit(s)
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.10 - Manufacture of basic iron and steel and of ferro-alloys

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
13 November 2013
Employment effect (start)
13 November 2013
Foreseen end date
13 December 2013


Metallurgical company Liepajas Metalurgs (LM) is to cut at least 1,500 jobs during the next month. As reported, the Liepaja court decided to halt the LM legal protection process and launch the insolvency process. The company employs over 1,870 people and as announced only about 300 employees will remain in order to keep the essential operations till the company is sold.

According to media reports, all redundant employees will receive assistance to submit applications for receiving compensation from the wage guarantee fund. They will also be able to receive unemployment benefits from the State Social Insurance Agency.

LM is one of the largest companies in Latvia and largest job provider in Liepaja. It suffered EUR 14.7 million in consolidated losses in 2012, according to its audited consolidated report. 


  • 21 November 2013: The Baltic Course
  • 13 November 2013: Dienas Bizness
  • 13 November 2013: The Baltic Times


Eurofound (2013), Liepajas Metalurgs (LM), Bankruptcy in Latvia, factsheet number 76235, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76235.