Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Extraction Of Crude Petroleum And Natural Gas
06.2 - Extraction of natural gas

500 - 600 jobs
Number of planned job losses
Job loss
Announcement Date
15 October 2020
Employment effect (start)
Foreseen end date

Description

NAM, the company responsible for the exploration and extraction of Dutch natural gas,announced 600 job cuts. The job cuts include a voluntary redundancy scheme for 200-300 employees on a permanent contract, as well as some 300 employees on a temporary contract. The company states that falling gas prices, due to a warm winter and the COVID-19 crisis, are the reason for the reorganisation, adding that another reorganisation is likely to take place in 2021.

NAM is a joint-venture of Shell and ExxonMobil and was established in 1947 to explore the Dutch oil and natural gas resources. 


Sources

Citation

Eurofound (2020), NAM, Internal restructuring in Netherlands, factsheet number 102190, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102190.