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.
AS Nitrofert, a large producer of mineral fertilizers in North-Eastern Estonia, has announced that within a period from September to November 2015 will lay-off all of their employees. The company employs 426 workers and is considered to be one of the main employers in the region.
Nitrofert explained that the lay-offs are caused by decreasing prices in the world market. Nitrofert has already been in a difficult position, as it stopped functioning twice in 2001 and in 2009 and has had problems since then. Still, the managers of the company have stated that the company will not be closed down, but the assets will be frozen.
On 16 July, Estonian Unemployment Insurance Fund (EUIF) and companies representatives met for the first time to discuss further actions to help redundant employees. It was decided that EUIF will organise informative sessions and workshops in August where information about different opportunities EUIF has to offer and also information about available job positions will be shared with employees. In the end of August, EUIF will organise a small work trade fair for which they invite employers who may have available job openings and employees who will be made redundant by Nitrofert. According to EUIF, several interested employers have already contacted them.
Eurofound (2015), AS Nitrofert, Closure in Estonia, factsheet number 84360, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84360.
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