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.
DOW Chemical, an American chemicals company, has announced that it will cut 108 jobs at its location in Terneuzen, as it is moving work to India with the goal to save costs.
In August, DOW announced it would further reduce labour costs through location optimisation, which would involve moving selected positions within certain departments from various global locations to India by the end of 2024. Now it was announced that 108 jobs will be cut by direct dismissal in Terneuzen, including jobs in marketing, sales, the HR and finance departments.
Employees whose position in Terneuzen will move to India will be informed in six to eight weeks, if and when the works council gives positive advice and there is a social plan.
The company already dismissed 169 jobs in March of this year due to downsizing, which was recorded in the ERM events database Dow Chemical-2023-NL. This restructuring followed an announcement in January of 2023 that the American chemical group would be cutting 2000 jobs worldwide Dow Chemical-2023-WO. Additionally, in 2020, 170 jobs were cut in an earlier reorganisation in Terneuzen.
Eurofound (2023), DOW Chemical, Offshoring/Delocalisation in Netherlands, factsheet number 200596, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200596.
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