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 company Statoil announced a restructuring and offshoring plan that would reduce its Norwegian staff by as much as 900 employees by 2016. The aim is to reduce costs and increase flexibility. To start with, Statoil announced an initial outsourcing of services in IT, finance and facility management, resulting in at least 209 job losses in Norway and 30 abroad.Statoil is outsourcing these 239 full time positions to external suppliers, some in lower-costs countries.
Unions in Statoil are critical of the outsourcing and have pled for a solution that does not involve dismissals. They are now working to find solutions for the affected employees.
Updated, 22/4/14: Statoil has announced that there will be cuts also in investments offshore and at refineries onshore. The company has since 2009 cut costs by 500 million NOK, but is now committed to a further cost reduction of 700 million nok before 2016. This means further job reductions, and 200 positions will be cut at the Mongstad refinery within this period. The company is aiming for a soultion that enables these reductions to be accomplished without direct dismissals, by contracts ending and by offering redundant employees other positions within the company.
Eurofound (2014), Statoil, Outsourcing in Norway, factsheet number 76432, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76432.
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