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 Sugar Factory Osijek is to cut 230 people in the city of Osijek.
Hyperproduction and the import of foreign sugar led to a significant reduction in the sugar price.
Redundant workers obtained severance payment amounting to HRK 3,000 (€ 400) per year of previous work and four gross salaries.
The Croatian sugar-industry problems arose when Croatia did no longer benefit from European aids. In 2016 sugar beet was produced on 19,533 hectares, whereas it fell to 11,006 hectares in 2019. The Croatian Sugar Factory Osijek comprised of three relatively big sugar factories, geographically situated in the Eastern part of Croatia called Slavonia. One of them already closed in the City of Virovitica, and the same destiny is waiting for the Sugar Factory Osijek ltd.
Eurofound (2021), Sugar Factory Osijek, Closure in Croatia, factsheet number 103544, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103544.