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.
Tallinna Lennujaam, the group that operates Tallinn Airport and the ground handling company Tallinn Airport GH, announced the dismissal of 111 employees. The dismissals will be conducted between July and September 2020. Due to the containment measures of the COVID-19 outbreak, tourism and travelling have been restricted and the airport was left in a difficult position. The company has forecasted that reaching the pre-crisis number of passengers will not happen before the end of 2022. To mitigate the situation, the company applied measures advised by the state (e.g. wage subsidy), but these solutions are not sufficient to fully save the company, therefore the management holds the restructuring for inevitable.
Update, 14.09.2020:On 4 September 2020, the Tallinna Lennujaam announced it will lay off additional 20 employees. As the number of flights and passengers has decreased and there are no signs of business recovery, employees related to service and care of machinery and passengers will suffer job losses. Administrative staff will also be affected by the restructuring.
Eurofound (2020), Tallinna Lennujaam, Internal restructuring in Estonia, factsheet number 100750, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100750.