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.
Noorus SPA Hotel, located in the resort town of Narva-Jõesuu, Estonia, announced a reduction of its workforce. The initial collective dismissal notification has been submitted to the Estonian Unemployment Insurance Fund covering 172 employees. The reason for collective dismissal is a sharp increase in energy prices - both electricity and heating.
Consultations and negotiations will follow, which could result in a different number of dismissals. Moreover, the management board member of the expressed that it might be possible to avoid the dismissals if the state provides aid for the company or the economic situation improves. The start and end date of the dimissals is not currently available.
Eurofound (2022), Noorus SPA Hotel, Closure in Estonia, factsheet number 107119, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107119.