Employment, Labour-market, Latvia, Railways, Transport

She explained that the optimization of the number of employees affects all regions where LDz structures are located. The optimization affects Riga, Pieriga and Latgale regions the most, taking into account that these regions have the largest number of employees.

Employment relationships are terminated with administrative and technical staff whose functions overlap or who are no longer required to be employed due to a reduction in cargo volumes.

The reduction of the number of employees is in accordance with the decision of the board adopted at the beginning of the year, which envisages termination of employment with approximately 1,500 employees in 2020.

As reported, LDz previously stated that it plans to lay off around 1,500 employees by the end of this year.

As at January 1 this year, LDz employed a total of 6,265 employees, but the LDz concern employed a total of 9,950 employees. 

LDz turned over EUR 34.142 mln in the first quarter of 2020, which is a reduction of 33.5 percent from the respective period a year ago, while the company's profit tripled to EUR 9.429 mln, according to information released by LDz.

In the first quarter of 2019, LDz generated a profit of EUR 3.093 mln on a EUR 51.218 mln turnover. 

Latvijas Dzelzcels is a fully state-owned enterprise managing public railway infrastructure. It is the leading company of the LDz Group, which includes six subsidiaries.