Photo: Van Oord (Illustration)

Van Oord plans 500 lay-offs due to COVID-19

Van Oord plans to lay off approximately 500 employees globally due to COVID-19 impacts on the business.

Van Oord stated that the coronavirus situation is having a major impact on the company as it is facing a decline in turnover and deterioration in results.

The Rotterdam-headquartered company estimates a decrease of approximately 500 employees, of which circa 120 in a collective redundancy plan in the Netherlands.

“These are difficult measures for our company and employees. But we adapt to remain a healthy, innovative company that capitalises on the longer term potential of its markets,” the company writes.

Van Oord has requested the Works Council for advice and will start consultations with the Dutch unions.