Construction company BAM eliminates 650 jobs, mainly in the Netherlands – z24

Construction company BAM eliminates 650 jobs, mainly in the Netherlands – z24

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Construction company BAM eliminates 650 jobs, especially office functions in the Netherlands, which made the company announced Wednesday BAM in our country about 9700 employees.

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! The reorganization is part of a previously announced program to save 100 million euros in costs that end goal should be achieved by 2015

working capital must also durable with. 300. million reduced the non-recurring restructuring costs are estimated at 80 to 100 million

BAM adds 12 companies in the Netherlands together into two divisions, one for construction and real estate.. one for infrastructural projects. The part to public-private projects remains separately. Also in Belgium grabs the company. There, all six companies merged into a single business

. Improve Results

According to Rob van Wingerden, who Earlier this month, Nico de Vries relieved as chief executive in the country’s largest construction company, the measures needed to improve the results. Who were lately under pressure from poor market conditions and setbacks of tens of millions of euros in a number of major projects

. During the first half of the year turned BAM at the operational level even, but remained below the line are a loss of 6.6 million euros. Last year, the company closed the first half with a net profit of 16.2 million euros.

Size surgery BAM jerks unions

Union representatives shocked by the extent of surgery at BAM. “Shocking,” says director Ingrid Pallada FNV Bouw. She and her colleague Willem Timmer CNV Professionals suggest that at BAM from 2009, more than 1,000 jobs have disappeared. “Since the crisis it has been hit every year,” says Timmer.

The operation is not in itself a surprise to the unions. BAM had already announced a cost reduction program of EUR 100 million. But 650 jobs, especially office functions, “which is another big loss,” says the CNV driver.

The unions were already in talks with BAM on a new social plan. The previous expired on 1 October. To make arrangements with BAM soon, including on guidance for other work.’s Union officials “And it really works, so no temp job or flex construction,” said Timmer

Possessions shedding

BAM also reiterated Wednesday its objective to dispose off. least 100 million of assets per year This year, the counter is at 160 million

In the remainder of 2014 and 2015, the company expects mainly to sell commercial real estate and small businesses who are not in the. fit new course.