Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Croatian Chamber of Commerce (CCE) will lay off almost half of its employees due to the COVID-crisis and falling membership fees. The Croatian Chamber of Commerce employs about 520 people in the central office, branches and also in foreign representative offices. The number of dismissals will be between 200 and 250.
The reason is the decline in revenue from membership fees that have not been collected for three months, and will fall in 2021 year due to the reduction of membership fees. Therefore, the Croatian Chamber of Commerce is preparing a reorganization. For year 2020, the CCE planned revenues of HRK 233 million (€ 31.07 million), and about 70 percent or about HRK 165 million (€ 22 million), should have come from the mandatory membership fee paid by all companies operating in Croatia. After the outbreak of the COVID-19 crisis, the CCE decided that companies would not pay membership fees for three months. From all revenues, annually around HRK 90 million (€ 12 million) was spent for employees’ salaries and social contributions.
Eurofound (2020), Hrvatska gospodarska komora (Croatian Chamber of Commerce), Internal restructuring in Croatia, factsheet number 101245, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101245.