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, a state-owned energy company which has over 7,500 employees in Estonia, is closing down its Aidu mine with the loss of 290 jobs. The closure is due to the exhaustion of the mine's oil shale deposits . 61 out of the 351 employees of the Aidu quarry will continue work in Narva quarry. 290 workers will be made redundant, 74 of which can take retirement.
The work in the quarry will be ended gradually and the staff will be made redundant in stages. Work in the quarry will end by August 1, 2012 and the quarry will be fully closed by January 1, 2013.
The company has a development fund of 1 million euros to help staff to cope with the changes; staff will also receive redundancy payments that exceed 1.5 million euros. The company is cooperating with the Estonian Unemployment Insurance Fund to help employees to find new jobs.
Eurofound (2012), Eesti Energia, Closure in Estonia, factsheet number 72987, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72987.