Pause, Restart: Valamar Introduces New Plan to Keep All Employees

March 26, 2020 – To preserve jobs and business continuity in conditions where tourist traffic is completely suspended, Valamar has decided to launch the ‘Pause, Restart’ program, which will apply from April 1 for a minimum of 30 to 90 days, the length of the Government’s measure for preserving jobs.

HRTurizam reports that the Pause, Restart program will cover all Valamar employees for 30 to 90 days, which means that there will be no layoffs in Valamar. Also, about 2,800 workers employed by Valamar and Imperial Rab will benefit from Government measures.

All employees who cannot work due to the coronavirus crisis will be referred to the Pause, Restart program from April 1

During the Pause, employees will be provided a salary compensation of at least 60% of the regular salary, but not less than HRK 4,250 net. This measure will apply equally to employees and management, including seasonal and permanent seasonal workers.

During the Pause, the staff and management in charge of crisis management and administration, the maintenance, conservation and facility security staff, as well as the employees who perform communications with guests and partners, will work primarily, emphasized Valamar, adding that the part of management that has to work will be paid up to 30% until all employees return to work. Other full-time employees will be paid regular full pay.

“COVID-19 has triggered a global crisis and at the moment, tourism and hospitality are growing. Temporarily, until the situation calms down, we cannot operate regularly. We are proud of our employees and our goal is that no employee will lose their jobs because of this crisis. Valamar will do its best to get all of our people on a break back to their jobs as soon as possible. The situation is temporary; the business will start again and then we all need to be ready to Restart business. Valamar is a strong and stable company and I believe that with the support of the public sector, our shareholders, investors, partners and employees, we will survive this period and prepare for a quality business continuation,” said Valamar CEO Željko Kukurin.

Following the tightening of general prevention measures by the competent authorities, all hotels and restaurants in Valamar were closed in March.

The Management Board also canceled the General Assembly and, with the approval of the Supervisory Board, revoked the proposal for a dividend payment decision and, upon convening the General Assembly, will propose to retain the 2019 profit in order to increase liquidity and support the measure of preserving all jobs.

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