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 telecommunications services provider Hrvatski Telekom (HT) has announced that it will cut 100 jobs by the end of March 2017. The dismissals are part of a larger restructuring process aimed at maintaining operational efficiency and creating potential for long-term growth in a rapidly changing industry. Technological developments, which create significant changes in job structures, have been cited as a reason for the dismissals.
The dismissed employees are guaranteed severance packages according to the collective agreement. In addition to this, HT has decided to pay out additional sums to the dismissed employees based on their years of service in the company. The dismissed employees will receive a severance package that on average amounts to HRK 230,000 (€30,667), which is equivalent to a 1.5-year average wage in the company. The severance packages at HT are reported to be among the highest in Croatia and are on average twice the amount of what is legally required. Through the "Support Plus" programme, employees receive advice on labour market issues and employees who are leaving the company can receive subsidies for further training amounting to HRK 5,000 (€667).
Eurofound (2017), Hrvatski Telekom, Internal restructuring in Croatia, factsheet number 90294, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90294.
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