NPM Silmet

Type
Internal restructuring
Country
Estonia
Region
Eesti; Eesti; Kirde-Eesti
Location of affected unit(s)
Ida-Virumaa
Sector
Manufacturing
(20 - 21) Manufacture of chemicals and pharmaceuticals
20.1 - Manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms
20.13 - Manufacture of other inorganic basic chemicals
65 jobs
Number of planned job losses
Job loss
Announcement Date
18 May 2017
Employment effect (start)
1 June 2017
Foreseen end date
30 June 2017

Description

NPM Silmet AS, a rare earth metals processing company, is the biggest employer in Ida-Virumaa, Sillamäe. In May, they announced 65 job cuts, which is more than 10% of their current workforce. The reason for lay-offs is taking new technology into use and rearranging its production.

It is not known who will lose their jobs, as the employees have not yet been informed, but it is expected that the target group will mainly consists of those wanting to leave voluntarily and those planning to retire. For those made redudant, the company has also expressed the willingness to try to find another position in the company. 

Sources

  • 18 May 2017: ERR

Citation

Eurofound (2017), NPM Silmet, Internal restructuring in Estonia, factsheet number 91426, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91426.