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.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10.2 - Processing and preserving of fish, crustaceans and molluscs
400 jobs Number of planned job losses
Announcement Date
18 December 2014
Employment effect (start)
1 January 2015
Foreseen end date
1 March 2015
Description
JSC Ventspils zivju konservu kombinÄts, the producer of canned fish, plans to shrink production and dismiss 400 employees.
JSC Ventspils zivju konservu kombinÄts sells its production to 12 countries. The turnover of the company on 2014 was 13 million EUR. The Russian market accounts for about 70% of company’s exports. The unstable situation in the Russian economy, and, especially the decline of value of the Russian rouble, are the reasons behind the decision to reduce production.
From 1 January 2015 the production will be partly stopped, and only 80 from 480 employees will continue work. All social payments will be made to dismissed workers.
Sources
18 December 2014: www.delfi.lv
Citation
Eurofound (2014), Ventspils zivju konservu kombinÄts, Internal restructuring in Latvia, factsheet number 78009, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78009.
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