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 Economy (CCE) has announced that it will cut 152 jobs by the beginning of August 2014. According to the sources, the restructuring is a result of the economic crisis with CCE’S revenue almost halving in recent years. In July, reform of the CCE was announced. According to the sources, this reform involves the reduction of the number of organisational units and directors as well as an increase in efficiency. The sources report that about 90% of the job cuts will be through early retirements and employees will receive adequate severance payments. The CCE has borrowed HRK 13.5 million (€1.8 million) from Raiffeisenbank Austria in order to fund the job cuts.
The CCE is an independent business organisation and together with the Chamber’s working bodies, they promote, represent and protect their members’ common interests. The sources report that the CCE has its headquarters in Zagreb and also has 20 county chambers across Croatia.
Eurofound (2014), Croatian Chamber of Economy, Internal restructuring in Croatia, factsheet number 77303, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77303.