Heerema Marine Contractors restructuringCompany News // October 25, 2017
Heerema Marine Contractors (HMC) is to implement a restructuring.
The company said the restructuring is related to the continuing low oil price and low level of investment in the oil and gas industry and an increasingly competitive market.
"With market conditions and the outlook further deteriorating since the start of this year, the restructuring focuses on adapting HMC to decreased work volumes and on enhancing the cost efficiency and competitiveness of the company," said HMC.
As a result of the intended restructuring it is anticipated that the workforce will be reduced with compulsory redundancies being unavoidable.
The restructuring foresees 200 office personnel and around 50 fleet personnel losing their jobs. The company's management has informed the staff of the intended plans.
All changes are subject to consultation with the relevant stakeholders and, as a first step, the company has asked advice from the Works Council.
"HMC will do everything possible to support those affected and has also entered into discussions with the trade unions about a severance package," said the company.
Frans den Houter, an executive board member at HMC, said the company regrets the loss of personnel.
HMC’s board said the company has a strong future: ”We are proud of our long track record in engineering and project management. With this restructuring it is our 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.”