Eesti Energia plans to cut about 10 percent of positions

Eesti Energia plans to cut about 10 percent of its positions, with management board chairman Andrus Durejko and finance chief Marlen Tamm set to explain the plan and the company’s latest results at a press conference starting at 11, ERR reports.

The company said on Thursday it would begin preliminary consultations on collective redundancies. The plan would eliminate 390 positions across Enefit Industry, Enefit Power and Eesti Energia AS. Enefit OÜ and Elektrilevi also plan to reduce their workforces.

Eesti Energia’s nine-month sales revenue rose 12 percent year on year to 1.33 billion euros. EBITDA increased 7 percent to 235 million euros, while net profit grew 36 percent to 42 million euros.

ERR is broadcasting the press conference live on its website.