Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Leading Estonia maker of office furniture to lay off tenth of employees

Saturday 13 December 2008

Estonian company Standard that manufactures office and hotel furniture announced it is laying off about 10 percent of its workforce.
Eesti Päevaleht writes that Standard which employs a total of 226 people plans to make redundant 23 workers.

“This is a natural development in this situation. This ten percent is relatively little,” explained Enn Veskimägi, chairman of Standard.

Veskimägi added that the company had made a reasonable decision not to cut wages, but to lay off people. “I don’t think any other companies have better solutions.

Veskimägi said that the company was preparing for tough times. “Markets are falling and we need to be ready. Those business that are late reacting to changes on the market face extinction,” he said.

Non-audited consolidated turnover of Standard EEK 273 million in 2007. Its pre-tax profit for the year was EEK 17 mln which is 52 pct more than in 2006. Among others, Standard supplied furniture for all 800 hotel rooms in Tallinn in 2007. Export sales amounted to 74 mln kroons and were up 23 pct, mainly to Latvia and Finland, but also to Germany, Sweden, Holland, Russia and Lithuania.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Monday 24 July 2017 Steelcase Werndl changes name and relocates European Headquarters to Munich

Steelcase Werndl AG, a subsidiary of the American office furniture manufacturer Steelcase, will rena

Monday 24 July 2017 Novacap Announces partnership with Canadian furniture manufacturer Bestar Inc.

Novacap, a Canadian leader in private equity, today announced a partnership with Bestar Inc. (“Bes

Monday 24 July 2017 HNI posts 2Q earnings

MUSCATINE — HNI Corp. announced sales of $514.5 million and net income of $13.8 million for the se

Wednesday 19 July 2017 2016 was a good year for Greec office furniture maker Dromeas

Greec office furniture maker Dromeas increased their turnover by 52.7% to € 13.8 mln. The loss bef

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7670 1510