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 well-known Italian textile brand Benetton is closing its plant in Osijek and laying off 260 workers. Benetton started production in Croatia in 2000; when its first plant was built within the Osijek Free Zone. However, due to large debts, Benetton is now closing plants and stores worldwide.
When laying off workers in Osijek, Benetton has respected all legal procedures, and workers will also receive severance pay. The company even granted employees severance pay for all years of service. The law stipulates that payments are made for a maximum of 18 years of service, and the employer is not obliged to pay anything beyond that. However, Benetton agreed to it, positively affecting the approximately 50 workers with more than 18 years of service at Benetton.
Eurofound (2025), Benetton, Closure in Croatia, factsheet number 202201, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202201.