Royal IHC to lay off 1600 workers

Royal IHC, a Dutch builder of vessels and equipment for the offshore oil & gas and dredging industries, has revealed it will start laying off workers due to tough market conditions.

In a statement issued yesterday, the company said that due to the rapidly deteriorating market and a drop in oil price, it was forced to make substantial cost cutting measures, increase competitiveness and ensure a stable and economically sound business in the future.

The company will cut around 1,600 jobs. It said it would slash 487 permanent positions and 1127 temporary jobs. The cuts are expected to be completed by the end of 2015.

Also, Royal IHC, formerly known as IHC Merwede, will close two of its four manufacturing facilities in the Netherlands.

In its 2014 annual report, IHC Merwede said that at the end of 2014 it had over 3,200 employees based at various locations around the world.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply