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.
Energy service company Vilniaus Energija is to dismiss 114 employees of the Vilnius Combined Heat and Power Plant TE-3. The dismissed workers will receive notices about the termination of employment contracts on 30 October.
On 1 January 2016 the plant will cease operating because of the Lithuanian Government’s decision to suspend electricity production in combined heat and power plants. Indeed the Government has announced its withdrawal from next year's Public Service Obligations (PSO) quotas for power plants.
Currently Vilniaus Energija employs 913 employees.
Eurofound (2015), Vilniaus energija, Closure in Lithuania, factsheet number 85212, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85212.