Economic developments have forced IHC to move ahead with their "IHC 2020" strategy sooner than anticipated. Today, the company announced it will cut 487 of its permanent positions as well as 1127 of its temporary workers.
IHC states the low oil price, intensifying competition and consumers changing their demand as the main reasons for restructuring the company sooner than planned. The IHC 2020 strategy is aimed at becoming less dependent on the volatile shipbuilding market and focuses at creating complex, integrated dredging and offshore vessel as well as the expansion of the equipment division and further development of opex activities.
The company will close two of its four ship yards in the Netherlands and will increase its building capacity abroad. The company plans to finalise the lay-offs by the end of this year.
IHC has informed its employees and the unions of this decision earlier today (10 June) and is working on a plan to help the employees that lose their jobs as best they can.
Picture: IHC will lay its focus on complex vessels, such as dredgers. Here, the recently launched dredger Ilembe (by IHC).
