Estonian Manufacturer to Cut 45 Jobs, Citing Unavoidable Circumstances
MS Balti Trafo OÜ, a major Estonian electrical component producer and part of the international Tech Power Electronics Group, plans to cut up to 45 jobs after notifying the Unemployment Insurance Fund, with its financial director attributing the decision to unspecified 'unavoidable circumstances'.
- —MS Balti Trafo OÜ, a major Estonian producer of electrical components, has informed the Unemployment Insurance Fund of plans to lay off up to 45 employees.
- —The company attributes the decision to unavoidable circumstances, according to Financial Director Mark Einaste.
- —MS Balti Trafo OÜ is part of the international Tech Power Electronics Group and exports most of its products to the European Union.
- —In the fourth quarter of 2024, the company employed 139 individuals, though the exact scale of the layoffs remains undisclosed by the company.
Recap
The layoffs at a profitable, EU-focused Estonian exporter signal potential economic headwinds or a significant internal restructuring. The company's lack of transparency, citing only 'unavoidable circumstances,' obscures the true drivers, whether they are declining demand, supply chain issues, or a strategic pivot by its parent company. This move directly impacts the local Pärnumaa economy and raises questions about the stability of similar export-oriented firms in the region.