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.
Dow Chemical, an American chemical company, has announced that it will cut 169 jobs at their locations in Terneuzen, Dordrecht and Delfzijl in the Netherlands. Demand for its products has declined as Dow Chemical is unable to compete sufficiently with chemical companies in the United States and Asia, partly due to high energy costs and inflation. Moreover, in order to stop emitting CO₂ by 2050, the company must ensure that they continue to make a profit. As a result, costs need to be cut and the company needs to be downsized. 127 jobs will be cut by direct dismissal, including 100 jobs at the Terneuzen location, 42 jobs will be cut through not filling in vacancies.
The Dow director has promised that there will be a 'good social plan' for the dismissed employees. In January, the American chemical group already announced that it would cut 2,000 jobs worldwide. Additionally, an earlier reorganization in Terneuzen took place in the autumn of 2020, when 170 jobs were cut.
Eurofound (2023), Dow Chemical, Internal restructuring in Netherlands, factsheet number 108660, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108660.