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.
Greitasis kurjeris, the Lithuanian company engaged in postal and courier activities, will dismiss 418 employees in Vilnius by 9 June 2016. The main cause of dismissals is the bankruptcy of the company. Greitasis kurjeris is currently undergoing bankruptcy procedures and has already handed out layoff notices to all 418 employees. According to the management, the main cause of the bankruptcy was a new pricing system of the universal postal service provider Lietuvos paštas that was adopted on 1 January 2016. Greitasis kurjeris was using the services of Lietuvos paštas to deliver correspondence to small villages in Lithuania.
Eurofound (2016), Greitasis kurjeris, Bankruptcy in Lithuania, factsheet number 87674, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87674.