Dutch gas company NAM is cutting its workforce by almost 20% this year, reducing its payroll from 2,200 to 1,800 workers.

Hundreds of other jobs will go among support companies and suppliers, NAM director Gerald Schotman told a news conference in Loppersum.

Last year, the company said it would lose 190 jobs and 1,800 positions at other firms would be affected.

Everyone leaving the company is taking advantage of a voluntary redundancy package, a NAM spokesman told broadcaster NOS. Many are employees who have been with the company for some time and can use the package as early retirement.

The jobs are going across the entire company, which is a joint venture between Shell and ExxonMobil. However, the low gas price has led to less investment in developing new fields and relatively more jobs are going in this department, the spokesman said.

NAM has also been hit by the government’s decision to cut gas extraction in Groningen because of the earthquake risk.