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.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency And Tour Operator Activities 79.11 - Travel agency activities
132 jobs Number of planned job losses
Announcement Date
27 July 2020
Employment effect (start)
3 August 2020
Foreseen end date
30 September 2020
Description
Travel agency Atlas has launched an extensive process of business optimisation and restructuring entailing the dismissal of 132 of its 151 employees. Atlas has not been able to find a sustainable business model for many years and the final blow was the COVID-19 crisis that has particularly adverse consequences on the South Adriatic region, where Atlas is mostly active. Therefore, dismissed workers are awaiting the termination of their employment contract and the legal severance payment. The president of the Tourism and Services Trade Union of Croatia said that there were no hopes for the rescue of previously big and important companies in the sector.
Eurofound (2020), Atlas, Internal restructuring in Croatia, factsheet number 101322, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101322.
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