Construction company BAM has announced a reorganisation, aiming to cut costs for a total of €100 million next year. The reorganisation plan includes around 1,000 job cuts, in all parts of the company. The reorganisation was already deemed necessary after several construction projects showed large losses last year, but it became even more urgent due to more difficult market conditions as a result of the COVID-19 pandemic. The exact number of jobs cut depends on the outcome of negotiations with employees' respresentatives, which will start shortly.
Royal BAM Group is a Dutch construction company with 19,500 employees in five European countries. Earlier this year, the company announced the ceasing of the activities of BAM International, operating outside of Europe.