Redundancies as Latvian companies are impacted by economic sanctions

Several company applications for collective redundancies have been received by the State Employment Agency (NVA). Applications are mainly from companies where the sanctions on Russia have left an impact, NVA Director Evita Simsone told Latvian Radio on June 10.

She said that the NVA is closely following developments in the Latvian economy and the labor market, and “worrying trends” have been observed.

“We have received a number of collective redundancies applications. Therefore, of course, we look at them and think how to provide effective support to these people who will lose their job opportunities in the near future,” Simson said.

Most applications on collective redundancies have been received from transport and logistics as well as from the energy sector.

“These are sectors that are very directly affected by the imposed sanctions in the aggressor state [Russia],” the head of the NVA said.

As regards the job opportunities offered by Latvian employers, Simsone said that the largest number of vacancies are currently registered in the construction and real estate sector, as well as in the information, technology and telecommunications sector, followed by catering, transport and logistics.

Simsone said that autumn and winter will be a “more challenging” time when unemployment rates are also rising normally.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Most important

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue