Nearly 300 Jobs at Risk in Daugavpils as Two Companies Cease Operations

Daugavpils is facing a significant reduction in employment as two companies have announced the cessation of operations or mass layoffs. The subsidiary of Latvijas dzelzceļš, LDz Cargo, has initiated a collective redundancy process, with layoffs planned to begin on August 1. The exact number of affected employees is still being determined, but it is estimated to be around 150 people.

Meanwhile, the international digital services company Concentrix, operating under the brand WebHelp in Daugavpils and located at Daugavpils University, plans to cease operations on October 1. The company, which was still recruiting additional staff in March, has decided not to extend its office lease, resulting in the loss of approximately 100 jobs.

According to publicly available information, LDz Cargo's turnover in the first quarter of this year decreased by 13.9% year-on-year to €17.107 million. The company's losses increased by 23.8% to €2.332 million. These financial results may have contributed to the decision to reduce the workforce.