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Home - Sanctions and Consequences: Latvian Railways is Preparing Lay-Offs

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Sanctions and Consequences: Latvian Railways is Preparing Lay-Offs

Systemically important sector of the economy of Latgale - railway - got into a difficult situation. Because of the war of sanctions, inspired by the European Union, falling of turnover is continued on the railway. Companies engaged with maintenance of cargo and repair of rolling stock incur losses. The next plan is the beginning of employee lay-offs.

It is hardly can somehow change the situation that Latvia has not supported direct sanctions against the Russian Railways and its head. About 80% of the cargo served by the Latvian Railways is cargo from Russia or to Russia. Losses that politicians have already caused to the industry are huge.

According to sources from several publications in the edition “Nasha” a plan of lay-offs is currently developing on the railroad, in the leadership of the Latvian Railways. It is known that about 50% of all costs associated with the operation of the railway are the salary costs. Savings will start from here, accordingly to the sources of “Nasha”. It is clear that the greatest shocks due to reductions will occur in Latgale, namely, in Daugavpils - the largest railway hub in the Baltic States will feel the effects of lay-offs personally. And at the same time the whole city, because every third family in the city in one way or another is related to the railroad or Locomotive repairing plant.