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 of offshore mining equipment HFG (Heerema Fabrication Group) has announced the reduction of 349 permanent employees at its headquarters in Zwijndrecht (western Netherlands) and both of its shipyards in Zwijndrecht and Vlissingen (southern Netherlands). 244 administrative and manufacturing jobs in Zwijndrecht and 105 jobs in Vlissingen, mostly in manufacturing, will be lost. The restructuring is a result of the crisis in the oil and gas industry leading to fewer orders, as well as increased international competition. Forced redundancies are said to be inevitable and HFG has entered negotiations with the unions about a redundancy package. The unions have called the restructuring harsh, and worry about employment in the affected areas. They have also expressed concern about the industry practise of hiring workers from southern and eastern European countries for lower pay than their Dutch counterparts, either by hiring them at their international branches and flying them in, or by outsourcing activities to Dutch companies employing southern and eastern European workers. Unions worry that HFG may adopt this practise in the future, when orders pick up again. HFG is part of the Dutch Heerema Group together with HMC (Heerema Marine Contractors), which instals offshore mining equipment. The group also has shipyards in the UK and Poland, where an additional 90 to 130 employees will lose their jobs. This restructuring is yet another instance of job loss in this sector, following news of job cuts in many other major companies such as Boskalis, SBM Offshore, Keppel Verolme, Fugro, and Royal IHC.
Eurofound (2016), HFG, Internal restructuring in Netherlands, factsheet number 89027, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89027.
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