As a company operating on a global scale, COVID-19 is having a major impact on business, Van Oord said in its release. Market conditions in the dredging industry are under pressure and the volatility in oil- and gas prices also triggers a decrease of offshore field services.
Van Oord will adapt and restructure the organisation to this new reality. A global decrease of approximately 500 employees is foreseen. Of which approximately 120 employees in a collective redundancy plan in the Netherlands.