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.
Tallink Grupp, the Estonian ferry operator, announced the collective dismissal of 1,115 employees across several of its group companies. The locations affected are Latvia, Sweden, Estonia and Finland.
The decision was driven by the sharp fall in passenger traffic caused by the COVID-19 pandemic. According to the company, the situation was made worse by the absence of government support for travel between Estonia, Latvia and Sweden.
The redundancies will affect 695 employees in Latvia Tallink Latvia 2020 - LV and Tallink Latvija 2020 - LV, 300 employees in Sweden Tallink Silja 2020 - SE, 290 employees in Estonia Tallink 2020 - EE and 100 employees in Finland Tallink 2020 - FI.
In the conclusion, these layoffs are equivalent to 2,500 job cuts of Tallink Group in 2020.
Eurofound (2020), Tallink, Internal restructuring in European Union , factsheet number 301225, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301225.
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