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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14.14 - Manufacture of underwear
123 - 143 jobs Number of planned job losses
Announcement Date
12 March 2005
Employment effect (start)
6 May 2005
Foreseen end date
Description
Marat factory has confirmed it is to close a plant in Mustvee. All 123 jobs at the plant manufacturing hosiery products will be lost as there is lack of job orders. In the future Marat will restructure its activities and concentrate more on contract works. Managers at the firm blame that it is economically unprofitable to maintain a big factory which has few job orders. The Estonian Unemployment Insurance Fund will pay to dismissed employees a benefit amounting a total of 1.04 million EEK.
Eurofound (2005), Marat, Closure in Estonia, factsheet number 61490, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61490.
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