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 Damen Group, a Dutch defence, shipbuilding and engineering Conglomerate Company has announced its plans to dismiss 870 employees by end of 2020 from its Galati and Mangalia shipyards. The Dutch company indicates that earlier this year it had ambitious plans to move towards building ships with of zero-carbon navigation potential and to increase the digitalisation and standardisation of its platforms. However, the low price of oil has partially led to a slowdown in offshore vessel segment. Coupled with the consequences of the COVID-19 outbreak, it led to the need for short-term organisational changes aimed at ensuring that the company adapts to the new reality.
The company also plans to dismiss 173 employees in the Netherlands.
The unions did not react to the announcement.
Currently, Damen has a workforce of 4,475 employees in its two locations in Romania.
Damen Shipyards Group employs 12,000 people worldwide, at 36 production sites in 100 different countries.
Eurofound (2020), Damen, Internal restructuring in Romania, factsheet number 101692, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101692.