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.
Loksa Shipyard, an Estonian shipbuilding company owned by Odense Steel Shipyard Ltd, is to cut 70-80 jobs at its Loksa site in April 2009. It was announced in the beginning of April that 30 foreign employees had already been laid off (mostly Ukrainians). The exact time of the first redundancy was not specified. According to the company's press announcement, another 40-50 Estonian employees will receive a redundancy notice due to reducing workload. Workloads will be reduced by 20% in April and 65% in May-June. The company's public relations manager has expressed the hope that the initial workload will be restored in the near future while negotiations are undergoing. However, it was also reported that in case of the workload being resumed to full capacity, foreign (mostly Ukrainians) workers will be rehired at first instance while local workforce will be used according to necessity. Odense Steel Shipyard Group develops and produces maritime transport and service solutions. Loksa Shipyard is specialised in the manufacture of hatch covers for shipbuilding purposes in addition to a range of other non-curved steel structures and components.
Eurofound (2009), Loksa Shipyard, Internal restructuring in Estonia, factsheet number 68836, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68836.
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