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.
Croatian oil and gas group INA is to cut 181 jobs. As initially reported, the company announced plans to dismiss 338 workers, mostly from the Rijeka oil refinery. As it was announced, the surplus of 338 workers is the result of "changes in the organization and technologies."
After negotiation with the works council, it was announced that 181 employees will be made redundant as part of the redundancy plan. The works council was against this decision but the management board decided unilaterally to continue with the labour force rationalisation. The company provides severance pay in the amount of 75pc gross salary per year of service. The minimum level of wages that would be taken for the calculation of severance pay is HRK 6,400 (€ 850), that is significantly higher than the amount agreed in the Collective Agreement and the Labour Law. According to an agreement between the management and the Trade Union, average value of severance pay is HRK 350,000 (€ 46,600). The majority of employees covered by the programme is administrative staff.
Eurofound (2014), INA, Internal restructuring in Croatia, factsheet number 77520, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77520.