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.
Mining / Quarrying Mining And Quarrying Extraction Of Crude Petroleum And Natural Gas 06.1 - Extraction of crude petroleum
150 jobs Number of planned job losses
Announcement Date
11 December 2015
Employment effect (start)
1 January 2016
Foreseen end date
31 March 2016
Description
Estonian oil shale mining company Eesti Energia Kaevandused, a subsidiary of the state energy company Eesti Energia, will reduce the number of personnel in Narva quarry by 150 employees due to low global oil prices. The company stated that in some quarry regions, the shale oil is buried under 30 metres of coater and mining is not cost-effective. Therefore, the company decided to conserve those areas and make 150 employees redundant.
Redundancies will be carried out from January 2016 to March 2016. According to trade union representative, there are excavator drivers, bulldozer drivers, dumper truck drivers and people working in other occupations among those laid off. Although the trade union understands that redundancies are inevitable due to the difficult economic situation, they try to avoid trade union members to be made redundant. Estonian Unemployment Insurance Fund (EUIF) announced that considering the current difficult situation for oil shale companies, the news did not come as a surprise. EUIF plans to organise information days in the company as well as labour trade fairs (for companies looking for employees and employees looking for work).
Eurofound (2015), Eesti Energia Kaevandused, Internal restructuring in Estonia, factsheet number 86345, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86345.
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