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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.09 - Other Information Technology And Computer Service Activities
204 jobs Number of planned job losses
Announcement Date
11 September 2023
Employment effect (start)
11 September 2023
Foreseen end date
Description
The Estonian tax and customs technology company Eurora Solutions is cutting 111 jobs worldwide, 80 employees are to be made redundant in Estonia, and a further 31 in the United States and United Kingdom.
The reason behind this internal restructuring plan is the debt the company has been accumulating. Thus, Eurora is seeking to reduce costs. Apart from the layoffs in Estonia, employees in the sales teams of Eurora in the US and UK are also affected by the redundancies. With 204 employees in total, Eurora is making more than half of its employees redundant.
Update 07/10/2023
Eurora Solutions has filed for bankruptcy on 28 September 2023, leading to the redundancy of all its 204 employees globally. According to the company, the reason behind the bankruptcy is the lack of capital and investments.
Information on the bankruptcy of Eurora in Estonia has been recorded in the ERM events database Eurora Solutions-2023-EE.
Eurofound (2023), Eurora Solutions, Bankruptcy in World, factsheet number 200381, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200381.
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