Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Tallink Group, an Estonian passenger water transport company operating in Estonia, Finland, Sweden and Latvia, announced it will lay off 190 employees. Due to the COVID-19 pandemic and the containment measures which include tourism restrictions and closed borders, the company has suffered financially and there is not enough for all their employees. While the Tallink Group has several subsidiaries, operating different parts of the group (hotels, maintenance and repair of ships, etc), the current dismissals affect the employees of the Tallink Group itself. Most of the 190 employees facing dismissals are service staff on ships. Additionally, with some employees, agreements will be made to reduce the workload and wage by 20% temporarily during the off-season. The dismissals affect also employees of Latvia and Sweden, where dismissals affect some 800 employees.
Update, 11.09.2020:On 2 September 2020, Tallink Group announced additional dismissals, affecting around 2,500 employees in different subsidiaries and countries (mainly employees of hotels, and service and maintenance employees). In Tallink Group itself, 100 employees in addition to the previously announced 190 will be laid off in the middle of December 2020.
Eurofound (2020), Tallink, Internal restructuring in Estonia, factsheet number 100894, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100894.
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