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.
Latvijas dzelzceļu (LDz), the largest rail cargo company in Latvia, announced the dismissal of 1,500 employees by the end of 2020. The chairman of the company stated that negative trends within the cargo transportation industry and the necessity to significantly increase the efficiency of the company call for a reduction of operations costs.
The dismissal is set to take place in several steps. According to the notice given by the company to the State Employment agency, 949 employees will be dismissed by the end of June, mainly in Riga, Jelgava and Daugavpils. The restructuring will affect bothÂrailway employees as well as administrative staff - accountants, secretaries, and office managers. The State Employment agency has already flagged that there are 2,357 vacancies in the professions affected by the redundancies, so affected workers might be able to find another employment soon.
The Latvian Railway and Transport Industry Trade Union has agreed with Latvijas dzelzceļu management that the requirements laid down in the general agreement will be fulfilled. The union emphasises that it is important that the dismissal is by labour law and the requirements of the general agreement.
As of 1 January 2020, Latvijas dzelzceļu had 6,265 employees. The whole group (LDz Group), including various subsidiaries, had 9,950 employees.
Eurofound (2020), Latvijas dzelzceļu, Internal restructuring in Latvia, factsheet number 99658, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99658.
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