EMCC European Monitoring Centre on Change

Gunvor

Company/Organisation:
Gunvor

Geographic Location

Country: Belgium
Region: Arr. Antwerpen; Prov. Antwerpen; Vlaams Gewest
Location of affected unit(s): Antwerpen

Company

Sector: Manufacturing
Manufacture of coke, and refined petroleum products
19.2 - Manufacture of refined petroleum products
Number Employed: 271

Employment Effects

Announcement Date: 23-06-2020
Planned Job Reductions min: 230
Type of Restructuring: Internal restructuring
Employment Effect Start: 30-06-2020

Additional Information

Gunvor, an oil refinery plant in the port of Antwerp has announced it will dismiss 230 of its employees. The reasoning behind the restructuring is the fact that the plant has not refined any oil for a significant period of time now, due to lack of demand (mainly for airplane fuel). The company is currently looking to see if the facility can be transformed into a oil storage facility, which would allow for 30-40 employees to remain active. The refinery will be maintained as well, in order to start-up quickly in case a reboot should happen. This seems unlikely in the near future however.

Sources: