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.
Dutch transportation and storage firm Odfjell has announced that it will cut 112 jobs in Rotterdam. The firm currently employs 265 jobs at that location. The company has begun consultations with the Works Council and with trade unions for a social plan and a new collective labour agreement for 2015. A precise timeline for job cuts is not available yet.
The source reports that the job cuts are part of larger restructuring at the firm to restore profit levels which have fallen in recent years. The source reports that the firm has also had some legal trouble; in 2012 a terminal at its Rotterdam facility was shut down as many of its tanks did not meet safety requirements. At the end of 2013 Odfjell was fined €3 million because of these safety concerns.
The ERM has previously reported on restructuring events at Odjell in 2012.
Eurofound (2014), Odfjell, Internal restructuring in Netherlands, factsheet number 76937, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76937.