Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Norwegian telecommunication company Telenor cuts 200 permanent jobs in management. The reasons behind the downsizing are rapid digitalisation, loss of customers and the need to work more efficiently to adapt to customer needs and new technology. The permanent employees affected by the downsizing will be offered severance packages. The trade union EL & IT is critical of the process, and argues that the company has not made visible the operational risk of loss of customers and income. The union is further critical to the company strategy of pursuing cost cutting as the only means of increasing efficiency. Rather, the union would prefer that the company reviews its practice of engaging contractors.
Telenor is a majority state-owned telecommunications company headquartered at Fornebu, close to Oslo. The company operates mainly in Scandinavia and Asia. In the year 2000, the company had 20,000 employees in Norway. With the current downsizing, the number of Telenor employees will fall below 3,000 in Norway. Telenor is listed at the Oslo Stock Exchange.
Eurofound (2023), Telenor, Internal restructuring in Norway, factsheet number 108437, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108437.
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