Dutch dredging company Van Oord has announced it will cut 500 jobs, of which 120 jobs will be cut in the Netherlands. The job cuts are related to the difficult market conditions, due to the COVID-19 pandemic and the volatility in oil- and gas prices. Job cuts will take place across the company, affecting both workers on its ships and office staff. The company has started consulting employee representatives. Van Oord, originally a dredging company, has expanded to offshore field services in recent years. The company had 5,217 employees in several countries at the end of 2019.