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.
Seismic acquisition company WesternGeco is closing its facility in Knarvik, Norway, dismissing or relocating all 190 employees and 18 temporary workers.
WesternGecko is the world's biggest seismic acquisition company, fully owned by international oil service company Schumberger. WesternGecko has nearly 700 employees in Norway. The Knarvik facility produces land and marine seismic equipment, mostly cables for sub-sea operations. The main reason for closing the site is reduced acquisition investments in the petroleum industry and increasing international competition.
The facility in Knarvik had 400 employees in 2009, but has undergone continous restructuring. In June 2014, the company informed its employees that it was considering closing the facility and moving production to WesternGecos facilities in Malaysia and its other sites in Norway. August 6th, employees were informed of the final decision to close the site. Most of the employees will no longer be working at the site by September 1st. Some are staying until the final closure, within the end of the year, while others will be offered other positions in the company. The company is currently negotiating the details with the unions. Union representatives believe it will be hard for many employees to get new jobs, and are especially concerned about those older than 58 years, who risk losing pension rights.
Eurofound (2014), WesternGeco, Offshoring/Delocalisation in Norway, factsheet number 77388, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77388.
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