The Dutch contractor said the cuts will affect facilities in the domestic market, the UK and Poland, but work at these yards would continue.

Staff have already been told of the plans that will see the group's workforce chopped by 450, from a current total of around 770.

"Due to poor market conditions in the oil and gas industry, increasing competition, the combination of price pressure and unfavourable contractual conditions in the wind energy market, and the somber prospects for the near future, Heerema has made the decision to implement a reorganization of the company," a statement on Wednesday read.

"Compulsory