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.
In the beginning of December 2019, M.V.Wool, an Estonian exporting fish processing company, gave a short notice that 125 of their 140 employees will be made redundant by the end of the year. In March 2019, M.V.Wool was associated with several bacteria outbreaks caused by listeria bacterium in several countries. As cleansing and sterilising the facilities have not improved the production and could not sustain the health requirements, the Estonian Veterinary and Food Board have ordered the termination of the activity, including production, mediation, storage, import and export of raw material and goods. 15 people will remain employed to work on the conditions and business recovery.
The Estonian Unemployment Insurance Fund has been notified by the company of the collective redundancy. The employee information and consultation process prescribed by law ended on 14 December 2019, when M.V.Wool began the lay-off proceedings. The company is cooperating with the Unemployment Insurance Fund and has promised to fully support the affected employees.
The company was established in 1994.
Update 10/01/2019:Both production plants of the company, in Harku and Vihterpalu, were thoroughly cleansed and sterilised and no new positive listeria samples were found. Therefore, in January 2020, the Estonian Veterinary and Food Board allowed further exploitation of both facilities. This decision means that the company will withdraw its collective dismissals programme. However, around 50 workers are dismissed due to reduced production. The plant in Vihterpalu was set back for exploitation on 2 January 2020 and the Harku plant on 10 January 2020. If the company restore its previous production levels, it may rehire the dismissed staff.
Eurofound (2019), M.V.Wool, Internal restructuring in Estonia, factsheet number 99364, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/99364.
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