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.
The State Forest Management Centre (RMK) has announced a redundancy of 81 people due to restructuring in the organisation.
As the organisation was mapping out its budget for 2025 it was understood that there is a need for 10% cuts in spending. The head of the board of RMK, Mikk Marran, commented that the aim is to optimise the company’s activity and to make it as efficient as possible. Currently there is no fixed number of redundancies but “it will stay around 80” said Marran. The final decision on the amount will be announced by the end of October 2024.
In 2022, the profits of RMK were 152,6 million euros but only 128 million euros in 2023, which could also explain the need for restructuring. RMK was founded in 1999 as a national revenue authority which manages around 30% of the land in Estonia. Currently, there are approximately 700 people employed but over 6500 people work in the forests managed by RMK.
Updated 30/10/24 The number of redundancies has been decreased in an official statement by RMK. It has now been confirmed that the layoff will affect 50 people.
Eurofound (2024), State Forest Management Centre (RMK), Internal restructuring in Estonia, factsheet number 201677, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201677.
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