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 For Transport Equipment Manufacture Of Other Transport Equipment 30.1 - Building Of Ships And Boats
263 jobs Number of planned job losses
Announcement Date
20 January 2025
Employment effect (start)
1 February 2025
Foreseen end date
28 February 2025
Description
The Damen Group, a Dutch defence, shipbuilding and engineering conglomerate, has announced its plans to dismiss 263 workers (18.8% of staff) by the end of February 2025 at the Mangalia shipyards in Romania.
The company has announced the authorities that it will start collective redundancies, in line with the court-agreed recovery plan. The notification sent to the specialized authorities stipulates that dismissed employees can be re-employed in the same job within 45 days if the economic situation of the company allows it.
In the notification sent to the Territorial Labour Inspectorate, the management of Damen Mangalia stated that the dismissed employees will receive compensatory wages, depending on seniority: up to 5 years: 2 gross average basic salaries at company level; between 6 and 10 years: 3 gross average basic salaries at company level; 11-15 years: 5 gross average basic salaries at company level; 16-20 years: 7 gross average basic salaries at company level and over 21: 9 gross average basic salaries at company level.
The Free Shipyard Union mentioned that the dismissal of 18.8% of the staff raises serious questions about how the yard's operational capacity will be maintained, calling for an extension of the period in which the employees are dismissed so that they have time to retrain.
Damen Netherlands filed for bankruptcy at the end of May against the Damen Mangalia shipyard, in which it owns a 49% stake. The debt is approx. €160 million, which represents the overdue loans that Damen has granted to the company since it took over the shares in 2018 until 2024. The action comes after the Dutch company asked the Vienna International Arbitral Centre (“VIAC”) to terminate the 2018 joint venture agreement by which the Romanian state became the majority shareholder of Damen Shipyards Mangalia SA.
Eurofound (2025), Damen, Internal restructuring in Romania, factsheet number 202226, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202226.
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