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.
The Dutch shipbuilding company Royal IHC, with shipyards in Kinderdijk and Krimpen aan den IJssel (western Netherlands), announced a reduction of 425 jobs. The job cuts will affect both permanent and temporary employees and concern mainly administrative personnel. The board of management will also be reduced to two people. The job cuts follow earlier reductions totaling over 1,000 employees and are the result of too few new orders in 2016 because of the downturn in the oil sector leading to significantly fewer investments in new ships. International competition in the dredging sector has also negatively affected orders. As of October 2016, it is not known when the job losses will be implemented by. The unions have expressed concern for the employees, who must deal with another period of insecurity so closely following the last restructuring effort, and are preparing for a new round of negotiations concerning a new redundancy package or "social plan". The largest Dutch trade union, FNV, is further critical of the large-scale use of temporary foreign workers, competing with local workers on labour costs. Management is already in negotiations with trade unions and the works council to discuss the strategic course of the company, which includes strengthening Royal IHC's position abroad. Royal IHC is active across the globe as a manufacturer of ships and equipment and provider of related services.
Eurofound (2016), Royal IHC, Internal restructuring in Netherlands, factsheet number 88975, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88975.