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-owned postal company, Eesti Post, has laid off 141 employees during April 2009 at its different sites across the country.
It has been announced earlier that the company is planning on cutting a total of 300 jobs during 2009. This is the first larger redundancy from this plan. The redundancies are related to an ongoing reduction of the number of post offices, due also to reorganisation as well as the introduction of motorised delivery. Part of the cuts will be made through outsourcing the services of local post offices.
This wave of redundancies follows the one that took place in 2008 when about 200 persons lost their jobs and more than 80 post offices were closed down.
In order to further cut the expenses, monthly salaries were reduced by 10% for 200 administrative staff. This is a temporary solution announced to last from April 2009 to February 2010. It has been said by the company representatives that a total of 60 million kroons must be cut in expenses. This will be made on the account of the labour costs and also transportation and information technology expenses. The company has aimed to reach profitability by 2011.
Eurofound (2008), Eesti Post, Internal restructuring in Estonia, factsheet number 68995, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68995.
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