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.
Management services company Frontica Business Solutions is to cut140 jobs, out of a total workforce of 680 in Norway. The cuts will be made in Stavanger, Bergen, Oslo, Kristiansand and Stord.
Frontica Business Solutions provides staffing, consulting, technology and other outsourcing services and has 1,135 employees globally.. The jobs will be cut across three divisions: information technology, procurement and office services. The company will start individual negotiations with affected employees shortly, and will consult with union representatives during the process.
The restructuring is an effort to adjust capacity to the new market situation in the petroleum industry. Frontica Business Solutions and its parent company Akastor was until last year part of petroleum services company Aker Soultions, and is still part of the Aker group. Both sister company MHWirth and former parent company Aker Solutions have announced major restructuring programmes.
Eurofound (2015), Frontica Business Solutions, Internal restructuring in Norway, factsheet number 83643, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/83643.
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