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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
33 jobs Number of planned job losses
Announcement Date
18 May 2009
Employment effect (start)
Foreseen end date
20 May 2009
Description
Nordecon Infra, one of the biggest Estonian road construction companies, is to make redundant 33 of their workers by 20 May 2009. This represents 11% of the total number of employed in the company. The exact sites, where the persons are made redundant, hs not been yet announced.
The company has been facing economic difficulties since the beginning of 2009. For example, a 30% cut in wages was planned in February 2009. However, trade unions strongly opposed and initiated consultations to define the exact time frame of the wage cuts and possible solutions to bring down the percentage of wage cuts. The exact reason for the redundancies has not been announced, but it is to be expected that the economic difficulties are behind the redundancy decision as well.
Job cuts were announced by the Estonian Unemployment Insurance Fund, who has allocated collective redundancy benefits to 33 of the company workers. The exact start of the redundancy procedure has not been communicated but the redundacies are to be completed by 20 May. Most probably, the redundancies will be undertaken at once and will not be extended over a longer time period.
Sources
25 February 2009: Eesti Päevaleht
Citation
Eurofound (2009), Nordecon Infra, Internal restructuring in Estonia, factsheet number 68996, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68996.
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