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.
Stora Enso, a Finnish-Swedish pulp and paper manufacturer has announced the dismissal of 101 workers in (South West) Estonia due to the closure of its Paikuse Sawmill. A further 49 workers in a Viljandi components factory will lose their jobs due to decreased demand during the economic recession. Contracts were ended with 54 workers and 2 workers continued working at Imavere sawmill.
These dismissals are part of the company´s significant staff reduction plan, resulting in about 1,700 job losses worldwide, including 600 employees in Germany, 550 in Finland, 400 in Russia and 150 in other countries by the end of 2010. Stora Enso is operating in more than 40 countries and currently employs 36,000 people.
Eurofound (2008), Stora Enso Timber AS, Internal restructuring in Estonia, factsheet number 67182, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67182.