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.
Enefit, Estonia’s biggest energy producer and provider, has announced an internal restructuring plan, leading to 100 job losses before the end of the first quarter of 2024.
Until two years ago, the company was the biggest employer in the region, but since the end of the energy crisis and reduction of prices, it has been struggling to repay the investment made into re-established power plants and hired workers. During 2023, the company had already gradually made 400 workers redundant.
Even though several hundreds of people have lost their jobs in the past year, the head of Ida-Virumaa’s Unemployment Insurance Fund has said that this has not affected the unemployment market much, as only 4% of all jobless people in the region are from Enefit Power and most of them have found new jobs.
Enefit is based in the North-Eastern part of Estonia, Ida-Virumaa. It has three sub-branches: Enefit Solutions, Enefit Power and Enefit Green. Enefit has been promoting the usage of green energy but is mostly an oil shale based energy production company. Enefit Power was the biggest winner of the energy crisis, as the demand for energy increased and the company could expand its production of oil shale and rehire previous employees.
Previous restructuring programmes of Enefit in Estonia have been recorded in the ERM events database Enefit Power-2022-EE, and Enefit Kaevandused AS-2019-EE.
Eurofound (2024), Enefit Power, Closure in Estonia, factsheet number 200913, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200913.
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