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.
Allseas, a company specialized in offshore pipeline installation and subsea construction, has announced it will cut 300 jobs among its staff working on its ships. As a result of low oil prices and the COVID-19 pandemic, many projects in the sector of petroleum and natural gas extraction have been postponed, which has significantly reduced the workload for Allseas. In addition to the dismissal of 300 workers with a permanent contract, Allseas is postponing investments in order to maintain its financial liquidity. The measures are deemed necessary to secure the continuity of the company.
Eurofound (2020), Allseas, Internal restructuring in Netherlands, factsheet number 100815, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100815.