Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Mining Support Service Activities
09 - Mining support service activities

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
7 May 2015
Employment effect (start)
Foreseen end date

Description

Dutch offshore equipment and services provider SBM Offshore will cut 1,500 jobs in 2015 and 2016.

The job cuts are part of the reorganisation announced in December 2014 to reduce annual costs. The job losses are due to a decrease in revenue in the first quarter of 2014 and 2015 as a result of low oil prices. Furthermore, the image of the company has been seriously compromised by a series of bribery scandals that occurred between 2007 and 2011. In particular, SBM Offshore is involved in a fraud case in Brazil and investigations are still ongoing.


Sources

  • 7 May 2015: nrc.nl
  • 7 May 2015: SMB offshore press release

Citation

Eurofound (2015), SBM Offshore , Internal restructuring in Netherlands, factsheet number 83710, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83710.