Most of the jobs – 870 – will go in Romania, with the rest being cut at the company’s operations in the Netherlands.
Company officials said 1,050 jobs would be cut by the end of this year.
Company sources said dozens of Damen employees have been informed about imminent layoffs.
Damen has nearly 2,500 employees at the shipyard in Galati, which posted a profit of RON40.4 million in 2019, almost double compared with 2018. At the shipyard in Mangalia, whioch it bought mid-2018 from Daewoo Shipbuilding & Marine Engineering (DSME), Damen has around 1,600 employees.
Damen posted a loss of EUR287 million in 2019 and has 13,000 employees globally.