EISA cut costs by €3.3m in 2024, streamlined staff and operations
The Estonian Business and Innovation Agency (EISA) cut 66 positions, some of them not filled at the time, through the course of 2024, reducing labor costs by €3.3 million in the process.
The savings were achieved by merging departments and leaving vacant positions unfilled.
Outgoing EISA CEO Kati Kusmin said: "In addition to reducing positions, we have cut operational costs by nearly €10 million this year."
Kusmin emphasized that not all cuts involved layoffs.
Over the year, the agency worked on improving efficiency, noting that over 80 percent of its budget derives from EU structural funds, which carry with them strict usage conditions.
While EISA activities funded by the Estonian state make up a small part of the overall share, the organization says, these also focus on generating direct revenues, mostly via tax takes.
Kusmin added that the summer budget cuts related to sectors like tourism, foreign investments, and the e-residency program.
An agency spokesperson estimated approximately 400 contractual employees on EISA's payroll as at year-end 2024.
EISA was formed from a merger of trade promotional organization Enterprise Estonia (EAS) and state loans organization KredEx, in 2022. That year, EISA reported it employed 368 staff, with a workforce turnover rate of 18 percent.
The national e-residency project falls under its remit.
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Editor: Andrew Whyte, Barbara Oja
