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.
Manufacturing Manufacture Of Coke And Refined Petroleum Products Manufacture Of Coke And Refined Petroleum Products 19.2 - Manufacture of refined petroleum products
230 jobs Number of planned job losses
Announcement Date
23 June 2020
Employment effect (start)
30 June 2020
Foreseen end date
Description
Gunvor, an oil refinery plant in the port of Antwerp has announced it will dismiss 230 of its employees. The reasoning behind the restructuring is the fact that the plant has not refined any oil for a significant period of time now, due to lack of demand (mainly for airplane fuel). The company is currently looking to see if the facility can be transformed into a oil storage facility, which would allow for 30-40 employees to remain active. The refinery will be maintained as well, in order to start-up quickly in case a reboot should happen. This seems unlikely in the near future however.
Eurofound (2020), Gunvor, Internal restructuring in Belgium, factsheet number 101065, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101065.
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