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.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.13 - Manufacture of other inorganic basic chemicals
65 jobs Number of planned job losses
Announcement Date
18 May 2017
Employment effect (start)
1 June 2017
Foreseen end date
30 June 2017
Description
NPM Silmet AS, a rare earth metals processing company, is the biggest employer in Ida-Virumaa, Sillamäe. In May, they announced 65 job cuts, which is more than 10% of their current workforce. The reason for lay-offs is taking new technology into use and rearranging its production.
It is not known who will lose their jobs, as the employees have not yet been informed, but it is expected that the target group will mainly consists of those wanting to leave voluntarily and those planning to retire. For those made redudant, the company has also expressed the willingness to try to find another position in the company.
Sources
18 May 2017: ERR
Citation
Eurofound (2017), NPM Silmet, Internal restructuring in Estonia, factsheet number 91426, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91426.
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