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.
Tallink Latvia, a subsidiary of the Tallink Group, an Estonian cruise ship operator, has announced that it will be cutting 100 jobs. The collective redundancies will mainly affect the ship's crew and technical staff. The process will start this week and will continue until early autumn. In the course of the negotiations, the number of laid-off employees will be specified, and it is expected that it will be less than initially announced, 'Tallink' informed.
The employees will be made redundant as the company has leased out Isabelle and Star vessels. The ferries will be leased without a crew for several years, as well as other ships of the company have been leased for a long time, so Tallink will not be able to provide employees with adequate workload in the near future.
In addition to workers in Latvia, 407 workers in Estonia will also be fired (Hansaliin-2023-ET).
Previous restructuring has been recorded for Tallink in the ERM database. During 2022, the company announced an EU-wide reduction of 168 jobs (Tallink-2022-EU), and a restructuring cutting 158 jobs in Sweden (Tallink-2022-SE).
Eurofound (2023), Tallink Latvija, Internal restructuring in Latvia, factsheet number 108836, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108836.