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.
Norwegian oil and gas company StatoilHydro - formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro - announced the loss of several hundred jobs by reorganising its offshore and onshore industrial activities. The planning process started in early 2008 while the expected number of job losses was announced in the media in September 2008. The unions have protested fiercely against the announced reduction of 680 workers (out of a total workforce of 5,000 offshore workers) and the number was reduced to 440 in October. Discussions between unions and management continue. StatoilHydro restructured its onshore office activities with the loss of 2,500 white collar jobs in 2007.
After more discussions a revised offshore organization model was decided 22nd of December, and the final job cut turned out to be 352. The new model will be gradually be introduced throughout 2009.
Eurofound (2008), StatoilHydro, Merger/Acquisition in Norway, factsheet number 67372, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67372.
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