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 offshore equipment and services provider SBM Offshore will cut 1,500 jobs in 2015 and 2016.
The job cuts are part of the reorganisation announced in December 2014 to reduce annual costs. The job losses are due to a decrease in revenue in the first quarter of 2014 and 2015 as a result of low oil prices. Furthermore, the image of the company has been seriously compromised by a series of bribery scandals that occurred between 2007 and 2011. In particular, SBM Offshore is involved in a fraud case in Brazil and investigations are still ongoing.
Eurofound (2015), SBM Offshore , Internal restructuring in Netherlands, factsheet number 83710, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83710.