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.
The ferry operator Tallink Silja has announced its plan to dismiss up to 450 employees in Sweden due to the effects of the COVID-19 pandemic. A majority of the employees, who have been given notice, work on the ferries of the company.
In April 2020, the number of passengers on the ferries of Tallink Silja decreased by 96% in comparison to April last year. The company argues that since the economic consequences of the COVID-19 related restrictions are already significant and will have a long-term impact on their business activity, thus they have to make significant organisational changes and cut down the number of employees.
The company has requested the Swedish government to consider temporary changes to the regulations of financial support for shipping companies. According to Tallink Silja, they do not receive this support at the moment as their ferries are not operating.
Tallink Silja is part of the Tallink Group and it operates in the northern parts of the Baltic Sea.
Update 7 July 2020:the company has announced that close to 300 employees will be dismissed.
Eurofound (2020), Tallink Silja, Internal restructuring in Sweden, factsheet number 100743, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100743.