About 2,000 jobs axed at Dutch state fossil fuel amid low prices

Cutbacks and reorganization in gas company Nederlandsche Aardolie Maatschappij will lead to 2 thousand layoffs next year, mostly in companies that work with NAM.

A spokesperson for NAM confirmed this to Dagblad van het Noorden.

Companies that undertake work for NAM will be hit the hardest, with 1,800 of the 2,000 jobs disappearing there. This involves companies that, for example, is hired by NAM to perform maintenance on its installations. A total of 190 jobs will disappear from NAM itself.

The company hopes that no redundancies will be necessary, but cannot guarantee that. The job losses will be spread across the Netherlands and the drilling platforms in the North Sea.

NAM announced significant cutbacks in May, stating that the falling gas and oil prices and cuts in gas production due to the earthquakes in Groningen has put the company under financial pressure.