Lithuanian Railways trims workforce by 10%
2017-09-15, 09:40
Published in
Economy
kaunas.lt
Lietuvos Gelezinkeliai (Lithuanian Railways, or LG) has cut its workforce by nearly 1,100 people in 2017, or almost 10%, and spent 5 million euros on severance payments, the business daily Verslo Zinios reported on Thursday. The state-owned railway group employed a total of 10,710 people on Sept. 12, down by 9.2% from 11,792 on Jan. 1. The parent company alone trimmed its workforce by 900 people. LG spent around 5 million euros on severance payments for laid-off workers during the period, not including its subsidiaries' severance costs. The company expects that the management restructuring alone will help it save some 9 million euros annually.
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