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.
German supplier of pneumatic and electrical automation technology Festo is expanding its activities in Lithuania and will create around 300 new jobs in its service centre in Kaunas by April 2020. Currently the company employs 270 employees. The management of the company announced the intention to double the number of employees over the next three years. Festo plans to employ specialists in the fields of finance, IT, document management, marketing and engineering.
Festo group has over 250 branch offices and employs around 18,700 employees globally.
Eurofound (2017), Festo, Business expansion in Lithuania, factsheet number 90643, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90643.