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 construction company of offshore drilling platforms, Heerema Marine Contractors (HMC), has announced the reduction of 350 jobs, yet another reorganisation following from the crisis in the offshore industry due to persistently low oil prices. The layoffs will take place exclusively in HMC's offshore pipe laying department. The offshore pipe laying market is highly competitive and suffers from significant overcapacity and as a result, HMC no longer considers its market position viable. The layoffs are part of HMC's transition into the areas of transport and installation of offshore structures, the decommissioning of drilling platforms and projects in the renewable and sustainable energy sector. Previously in October 2017, HMC also cut 250 jobs among fleet and office personnel in the Netherlands. The date on which these job losses will take place are still not known, though it appears that two thirds of the job losses will concern office personnel.
As of May 2018, no reaction from social partners has yet been reported. However, all intended changes will be subject to consultation with relevant stakeholders. As a first step, the company will seek advice from their work council in The Netherlands.
Eurofound (2018), Heerema Marine Contractors (HMC), Internal restructuring in Netherlands, factsheet number 93961, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93961.