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.
Eesti Energia Kaevandused, the state-owned mining company, announced that due to decrease in demand for oil shale, they are forced to lay off around 200 miners by the end of 2015.The company stated that they have to switch their mines back to five-day working week from current six-day working week and this means reduction in the number of employees.The company stated that in order to stay competitive they have to become more effective and this means taking up new technologies and also might lead to creation of 50 new jobs. According to the company, half of the 200 people laid off will move to retirement or to old-age pension under favourable conditions. The company will also pay employer pension to all those employees who are up to 5 years before retirement and also will offer retraining scholarship to workers who wish to acquire new professions. Once the market situation improves the company is planning to re-employ laid-off workers.
Eurofound (2015), Eesti Energia Kaevandused, Internal restructuring in Estonia, factsheet number 84619, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84619.
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