NAM to cut 400 jobs this year

Dutch oil company NAM is scrapping 400 of its 2,200 jobs this year, a spokesperson for the company confirmed on Tuesday. All leaving employees are making use of a voluntary redundancy scheme, ANP reports By October 1st a total of 200 employees already stopped working on this voluntary scheme. By January 1st another 200 employees will voluntarily leave the company. According to the spokesperson, for a large part these are employees with a relatively long service who are taking early retirement in this manner. These departures affected all departments of NAM, the spokesperson said. NAM is struggling with the low natural gas prices, combined with lower production from the gas fields in Groningen. Suppliers and other companies in the Netherlands that work closely with NAM may also face more job losses. According to the spokesperson, it generally applies that after reorganization at NAM, suppliers also cut jobs.