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.
Aibel, a service provider to the Norwegian offshore oil and gas industry, has announced another round of restructuring affecting 70 employees in Bergen and 45-50 in Kristiansund. Aibel currently employes 600 in Bergen and 120 in Kristiansund.
However, the company has yet to determine which individuals will be affected and has not yet set a deadline for this process. There will be individual discussions meeting with all candidates for dismissal and the proces will start in one month.
As previously reported (1, 2), the company has since March 2014 announced reductions amounting to more than 1,000 of its own employees, and as many external consultants. So far, Aibel has reduced its staff by 600 over the past year, of which 500 worked in Norway.
The reason for the most recent round of restructuring is the same as for the previous ones: a worsening market situation and a lack of new projects. At least 10,000 jobs have been cut in the Norwegian petroleum sector over the past year. Statistics Norway has estimated that as much as 30,000 jobs directly related to petroleum investment activity may be cut before 2018.
Eurofound (2015), Aibel, Internal restructuring in Norway, factsheet number 79230, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/79230.
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