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.
On 18 April 2013, the petrochemical group Saudi Basic Industries Corporations (SABIC) announced plans to reduce its European workforce by 1,050 staff due to a weak business outlook for the region.
As part of these job cuts the group will lay off 420 employees in its Dutch operations. The majority of these layoffs will take place in Limburg, where 300 employees will be made redundant. The remainder, 120 positions, will take place across plants and offices in Amsterdam, Bergen op Zoom, Enkhuizen and Raamsdonksveer.
Information on where the remainder of the European job cuts will be carried out have yet to be published.
SABIC is the world’s largest petrochemicals group and currently employs around 40,000 staff worldwide.
Eurofound (2013), SABIC, Internal restructuring in European Union, factsheet number 75708, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75708.