EMCC European Monitoring Centre on Change

Agrowill group

Company/Organisation:
Agrowill group

Geographic Location

Country: Lithuania
Region: Lietuva

Company

Sector: Agriculture
Agriculture, forestry and fishing
01 - Crop and animal production, hunting and related service activities
Group: ZIA valda

Employment Effects

Announcement Date: 25-03-2009
Planned Job Reductions min: 320
Type of Restructuring: Internal restructuring
Employment Effect Start: 25-03-2009

Additional Information

On 25 March 2010 agricultural company 'Agrowill group' announced internal restructure plan involving 320 redundancies. The total workforce of 800 people will be shredded by 40% and the managerial wages will be reduced by 15%. The mass redundancy measurements were introduced because of 7.4 million Litas (2.15 million Euro) financial loss the company had in 2008.

Sources Links:

http://www.lrytas.lt/-12379797221236959459-agrowill-group-%C5%A1iemet-atleis-apie-40-proc-darbuotoj%C5%B3.htm