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 chocolate manufacturing company 'Zvečevo' in the city of Požega shuts down a part of its production and dismisses 100 workers. The reasons to cut production are the negative market trends during the year 2019 and the negative projections for 2020. After several months of analysis of all production and business processes, the company is forced to initiate the process of consolidation of the entire business with a focus on the profitability of the product range and the stability of the firm. Consequently, the company's management board decided to cease production of certain products, reorganise production processes on all production lines, and optimise work processes in non-productive sectors.
The company stated that for the selection of the redundant staff, criteria include the age of the workers, their working experience and the number of his or her dependent family members. Regarding severance payment, all dismissed employees will exercise their rights according to the Labour Law and the Employer's Labour Regulations.
Eurofound (2020), Zvecevo, Internal restructuring in Croatia, factsheet number 99989, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/99989.
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