Snaige

Type
Internal restructuring
Country
Lithuania
Region
Lietuva; Vidurio ir vakarų Lietuvos regionas ; Alytaus apskritis
Location of affected unit(s)
Alytus
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.5 - Manufacture of domestic appliances
27.51 - Manufacture of electric domestic appliances
70 jobs
Number of planned job losses
Job loss
Announcement Date
26 September 2019
Employment effect (start)
26 September 2019
Foreseen end date
31 December 2019

Description

Snaige, a Lithuanian company producing refrigerators and freezers, intends to dismiss 70 employees in Alytus by the end of 2019. Currently the company employs 546 employees. The main cause of the dismissals is an internal restructuring of the company. Snaige is seeking to optimise production and the number of management staff since the production volumes have declined by 6% as compared to last year. One of the main reasons for such a decline was the financial difficulties of a large French customer.

Citation

Eurofound (2019), Snaige, Internal restructuring in Lithuania, factsheet number 98630, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98630.