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 Textiles 13 - Manufacture of textiles
376 jobs Number of planned job losses
Announcement Date
6 May 2005
Employment effect (start)
6 May 2005
Foreseen end date
31 December 2005
Description
Substantial job losses were announced at one of the biggest textile companies and major employer in the North-East region of Estonia. It was thought that about 500 jobs are at risk among the 3,500-strong workforce. During the year 2004 and the first half of year 2005 the firm cut more than 1,000 jobs. Kreenholmi Valdus has been badly hit in recent years. Firm has yield losses and has negative turnover since 2003. Due to internal restructuring, dismissals and improving the machinery the negative trend has stopped.
In spite of feared 500 dismissals the enterprise actually cut 376 jobs during the year 2005.
Sources
9 June 2006: Postimees
7 November 2005: Postimees
7 November 2005: Aripaev
6 May 2005: Aripaev
Citation
Eurofound (2005), Kreenholmi Valdus, Internal restructuring in Estonia, factsheet number 61549, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61549.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
