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Lithuanian Railways trims workforce by 10%
BC, Vilnius, 14.09.2017.
Print version
Print versionLietuvos 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, writes LETA/BNS.
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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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