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.
Maxima Eesti, the member of the international retail chain, has announced the creation of 105 jobs during May - August 2009 with the opening of two new stores in different regions of Estonia. Maxima Grupe is based in the Lithuanian capital and is the largest employer in the Baltic States with approximately 25,000 employees.
On 21 May 2009, Maxima Eesti opened a store in the island of Saaremaa. 75 persons were employed in the store. According to the local newspaper Oma Saar, more than 600 applied to work in the new store. Later, on 11 August 2009, Maxima Eesti opened its second store in 2009 in the capital Tallinn, creating about 30 new jobs. According to the public relations manager of Maxima Eesti, Mr Erkki Erilaid, commented that it is too early to say whether the company will be able to open any new stores during the year.
At the same time, Maxima has closed two stores in Estonia during 2009 and cut wages by 10-20%. Still, according to the comments of Mr Erilaid, this has not brought reduction in the number of jobs. According to Mr Erilaid, the two stores were closed because larger Maxima stores were opened in the neighborhood. Also, the wage cuts have not brought a reduction in the number of employees. According to Mr Erilaid, there will be no more stores closed during the year.
The whole concern of Maxima has a total of 430 stores, 50 of them are located in Estonia.
Eurofound (2009), MAXIMA Eesti, Business expansion in Estonia, factsheet number 69439, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69439.
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