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.
On 18th April 2013 Saudi Basic Industries (SABIC), a Saudi Arabian company in the petrochemical sector, announced its plan to cut 420 jobs in the Netherlands, as part of a European restructuring plan which will result in the loss of 1,050 jobs (see ABIC-EU2013). The redundancies are attributed to low market demand, the increasing competition from Asia and the use of new energy sources in the US. Most of the jobs (300) will be cut in the southeastern part of the country. Earlier in 2013 there was an unsuccessful strike for an improved social plan at Sabic.
Eurofound (2013), Saudi Basic Industries - NL, Internal restructuring in Netherlands, factsheet number 75328, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75328.