H&W Announces Restructuring Plans, Cuts 600 Jobs

Thursday, September 21, 2000
Following the positive award from the Arbitration Panel in relation to monies owed by Global Marine in respect of the delivery instalment for the Glomar Jack Ryan drillship, the board and management of Harland and Wolff have been considering how best to progress the restructuring of the group in such a manner as to afford the maximum opportunity to establish a profitable, viable and sustainable shipbuilding business at Harland and Wolff and also to further progress the development of Titanic Quarter. As a result, Harland and Wolff Holdings plc will proceed with a restructuring of operations which seeks to meet these objectives based on current workload. An immediate down-sizing to a core workforce of approximately 600 employees will occur, necessitating a redundancy of some 600 personnel. It has been confirmed that assistance will be forthcoming, through the Department of Higher and Further Education, Training and Employment for Northern Ireland to facilitate payment of employees statutory redundancy entitlement. It is anticipated that the redundancy process will be concluded by 5th October.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Shipbuilding

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1886 sec (5 req/sec)