Estonian clothing company Baltika Group has confirmed it is to lay off over 300 workers, Baltic News Service reports.
The redundancies come as the publicly-listed company, which operates a chain of clothing stores in the Baltic States and other countries, and operates the Monton, Mosaic, Baltman, Bastion and Ivo Nikkolo brands, ceases its manufacturing operations in Estonia, citing economic reasons.
The decision to liquidate the manufacturing subsidiary of Baltika, OÜ Baltika Tailor, was made on Friday and proceedings are now underway, BNS reports, though Baltika had already said in March that it would be stopping production operations in Estonia due to too-high fixed costs.
Up to now, about a third of Baltika's products were Estonian-made.
The lay-offs are to take place at the Baltika production units in Ida-Viru county and in the Tallinn district of Lasnamäe. According to daily Postimees, with over 300 job losses coming.
Back in march, then-Baltika CEO Meelis Milder said that the company was working closely with the Unemployment Insurance Fund (Töötukassa) to provide the best counseling and services for those being made redundant.
Editor: Andrew Whyte