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.
Telecommunications company Telenor is reducing its staff in Norway by 450 full-time equivalents by the end of 2014. Furthermore, the company will also cut its use of external consultants – today several hundred – to a minimum.
According to media reports, the job reductions are due to large upcoming investments. Infrastructure investment costs are rising as Norwegian customers increasingly demand mobile and fast broadband, while discarding landline phones.
All employees are now offered voluntary severance packages, with a deadline on 26 March. The company's CEO is not ruling out the possibility of direct dismissals. The employee board representative is criticizing the company for not involving union representatives in the restructuring process and using an exact number of job reductions instead of discussing which functions and competences are no longer needed.
Fifty per cent of Telenor is owned by the Norwegian state.
Eurofound (2014), Telenor Norge, Internal restructuring in Norway, factsheet number 76687, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76687.
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