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 manufacturer and installer of marine technical equipment RH Marine Group, with operations concentrated mainly in Rotterdam, has announced that it will reduce its workforce by 160 full-time jobs. The reductions are meant to improve the company's poor financial situation following severe losses in 2015 and early 2016, partly because of the poor state of the marine market and partly due to organisational problems in recent years. The intention is for most of the job reductions to be realised through natural attrition, but there will be forced resignations in 72 cases. As of April 2016, the reductions and accompanying social plan were yet to be approved by the works council. Union official Jan Meeder has expressed concern over the inconsistency of company policy in recent years and about the loss of knowledge and skills that will follow the reductions. RH Marine Group consists of RH Marine and Radio Holland, which were previously part of Imtech. Imtech went bankrupt in 2015, after which its marine divisions were acquired by Parcom Capital and Pon Holdings. RH Marine operates largely in the Netherlands but also has branches abroad, in which an additional 76 jobs will be lost.
Eurofound (2016), RH Marine Group, Internal restructuring in Netherlands, factsheet number 87380, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87380.
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