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.
Express Post, a postal service company, has announced closing down its home delivery business line, making approximately 450 workers redundant. The job reductions are to be implemented according to a planned schedule throughout 2023 and mainly concern postal delivery workers. Management cites the reason for closing down the home delivery business line as increasing losses over the years. According to the management, the company is cooperating with the Unemployment Insurance Fund to support workers during reductions and in their search for new jobs.
Express Post, established in 1997, was engaged in home delivery of periodicals as well as advertising and business letters in the largest cities in Estonia and their vicinity. While closing home delivery, Express Post will continue offering centre service and management service for the subscriber bases of periodicals.
Express Post is owned 50% by Express Grupp and 50% by Postimees Grupp. Both are Baltic media groups whose key activities include web media content production as well as the publishing of newspapers, magazines and books.
Eurofound (2023), Express Post , Closure in Estonia, factsheet number 108339, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108339.
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