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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35 - Electricity, Gas, Steam And Air Conditioning Supply
100 jobs Number of planned job losses
Announcement Date
5 March 2024
Employment effect (start)
5 March 2024
Foreseen end date
31 March 2024
Description
Enefit, Estonia’s biggest energy producer and provider, has announced an internal restructuring plan, leading to 100 job losses before the end of the first quarter of 2024.
Until two years ago, the company was the biggest employer in the region, but since the end of the energy crisis and reduction of prices, it has been struggling to repay the investment made into re-established power plants and hired workers. During 2023, the company had already gradually made 400 workers redundant.
Even though several hundreds of people have lost their jobs in the past year, the head of Ida-Virumaa’s Unemployment Insurance Fund has said that this has not affected the unemployment market much, as only 4% of all jobless people in the region are from Enefit Power and most of them have found new jobs.
Enefit is based in the North-Eastern part of Estonia, Ida-Virumaa. It has three sub-branches: Enefit Solutions, Enefit Power and Enefit Green. Enefit has been promoting the usage of green energy but is mostly an oil shale based energy production company. Enefit Power was the biggest winner of the energy crisis, as the demand for energy increased and the company could expand its production of oil shale and rehire previous employees.
Eurofound (2024), Enefit Power, Closure in Estonia, factsheet number 200913, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200913.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
