Swedish-Swiss energy and technology giant ABB has decided to reduce its business operations in Estonia and close at least 200 jobs in the area of financial services, Estonian public broadcaster ERR and ETV report.
ABB has been present in Estonia since the 1990s. The group of companies now stated that the development does not relate to current wage costs in the country, according to a report by ETV’s Aktuaalne kaamera last week.
In the summer of 2021, Swedish-Swiss multinational announced the withdrawal of its electricity distribution equipment production facility from Estonia along with around 100 jobs.
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Peter Mitchell, ABB’s Head of Financial Services Europe, explained: «We decided to do this to further harmonize, simplify and standardize our processes specifically within finance in ABB, and moving from here to fewer locations on a global level, so the work is going to existing ABB teams within the company.»
The group of companies will keep its financial units in Poland and India. ABB’s leading areas of operation are the production of generators, actuators, electrical switchboards etc. and the sale of transmission networks, low-voltage equipment, ERR and ETV report.
ABB to lay off 200 employees in Estonia
