Heerema Marine Contractors (HMC) intends to cut 250 jobs in a restructure due to the low price of oil.
The restructuring will result in compulsory redundancies with an expected loss of around 200 worldwide office personnel and 50 fleet personnel. This is to adapt to decreased work volumes and focus on enhancing the cost efficiency and competitiveness of the company, confirmed HMC.
Frans den Houter, executive board member of HMC, said the company are “deeply sorry to have to consider this restructuring” but stressed it is “convinced that these decisions are crucial for the continuity of HMC.”
Competitive market
HMC stated the continuing low oil price and historic low investments in the oil and gas industry has resulted in an increasingly competitive market. It added that the market conditions and outlook has further deteriorated since the start of the year.
HMC’s board stated: “With this restructuring it is our clear intention to strengthen our company and continue to serve our customers as an innovative leading marine contractor in the international offshore, oil and gas and wind energy markets.”
Staff have been informed of the intended plans and HMC has asked advice from the Works Council of HMC in The Netherlands, it said.
The company added it would support those employees affected and is discussing a severance package with trade unions.
By Rebecca Jeffrey
