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.
Veriff, an Estonian company that develops personal identification technology, announced the layoff of 12%, or 66 people, from its teams around the world. Most of the job cuts will take place in Estonia, where 42 workers will be laid off from the Estonian office. According to the head of the company, the reason for job reductions is the surrounding economic conditions.
Veriff, established in 2015, has offices in Tallinn, Tartu, Barcelona, New York, and London. Their clients are mainly international companies, mainly from the financial technology, crypto and mobility sectors.
Eurofound (2023), Veriff, Internal restructuring in Estonia, factsheet number 108476, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108476.