Van Oord to cut 500 jobs as a result of COVID-19

In: Windfarms
Van Oord has announced job cuts as a result of COVID-19. The company stated that a global decrease of approximately 500 employees is foreseen, incluing approximately 120 employees in a collective redundancy plan in the Netherlands.

The company has requested the Works Council for advice and will start consultation with the Dutch unions.

Van Oord stated: "Market conditions in the dredging industry are under pressure and the volatility in oil- and gas prices also triggers a decrease of offshore field services. Consequently we face a decline in our turnover and a deterioration of our results.

"We will adapt and restructure the organisation to this new reality to ensure that we remain healthy and to strengthen our competitive position."

Van Oord is a global marine contractor, with a focus on dredging, land infrastructure in the Netherlands, offshore wind and oil & gas infrastructure. It has been involved in over 40 offshore wind projects as Engineering Procurement Construction and Installation (EPCI) contractor in Europe.

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