As of Sunday, 667 employees of companies belonging to the Ekspress Grupp have received benefits from the Estonian Unemployment Insurance Fund. The total value of the compensations stands at €791,148.
To qualify for the Unemployment Fund measure, an employer must meet two out of three conditions. The company's turnover or revenue must have decreased at least 30 percent compared with the same period last year, the company is in a situation where it does not have work to give in the agreed amount to at least 30 percent of employees, and the wages of the workers have been lowered at least 30 percent or to the minimum wage.
Ekspress Grupp informed stock exchange of its wage cuts on March 18, but did not specify the size of the cuts. Mari-Liis Rüütsalu, board chair at Ekspress Grupp, says that the salaries of the board of directors have decreased by 25 percent at the parent company.
In AS Ekspress Meedia, a wage compensation has been assigned to 313 people to date and the total value of the compensations is €380,189. According to Argo Virkebau, Managing Director of Ekspress Meedia, the company has not made any employees redundant.
In AS Õhtuleht Kirjastus, 50 percent of which belongs to Ekspress Grupp, 189 employees have been assigned a wage compensation amounting to €220,779.
In AS Printall, compensation has been assigned to 153 employees for a total amount of €174,353, in OÜ Hea Lugu, five employees have received €6462 and in OÜ Linna Ekraanid, seven employees have received €9365.
As of Sunday, money has been paid to 104,931 employees of 12,978 institutions. The total cost of the scheme is €114.2 million.
Editor: Anders Nõmm