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.
NAM, the company responsible for the exploration and extraction of Dutch natural gas,announced 600 job cuts. The job cuts include a voluntary redundancy scheme for 200-300 employees on a permanent contract, as well as some 300 employees on a temporary contract. The company states that falling gas prices, due to a warm winter and the COVID-19 crisis, are the reason for the reorganisation, adding that another reorganisation is likely to take place in 2021.
NAM is a joint-venture of Shell and ExxonMobil and was established in 1947 to explore the Dutch oil and natural gas resources.
Eurofound (2020), NAM, Internal restructuring in Netherlands, factsheet number 102190, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102190.