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.
FMC Subsea, a manufacturer of equipment for offshore oil and gas installations, will dismiss 700 employees in Norway. The economic downturn in the offshore petroleum sector is the main reason for the restructuring. The company has sites in Kongsberg, Asker, Bergen, Kristiansund, Florø and Stavanger. All sites will be affected, though it is yet unknown how many cuts will be made at each site. Union representative Anne-Jenny Archer at FMC Kongsberg says cuts were expected, but that employees are surprised at the high number. The process is scheduled to be concluded before the end of June 2016.
The company has undergone several rounds of restructuring since September 2013 (FMC Kongsberg Subsea 2014 NO). The Norwegian branch of the company slowed down and subsequently froze all hiring in 2014. In January 2015, the company announced that 120 employees would be made redundant, while an additional 400 were dismissed in the summer (FMC Technologies 2015 NO). FMC Technologies is the world's largest manufacturer of equipment and services for subsea oil and gas production.
Update 16/07/16:After the cuts were announced, the company offered severance packages of two months additional pay to all employees. Trade unions described the offer as poor, but 326 employees nevertheless applied for a severance package. 295 were directly dismissed. Dismissals largely followed the seniority principle, although competence, social concerns and minimum staffing needs were also taken into consideration. 372 jobs have been cut at the site in Kongsberg, while the rest of the cuts are spread across different sites. Several media reported that ambulances were dispatched to FMC Kongsberg Subsea in the period when the final dismissals were announced, in June. Trade union representatives confirm that several employees have been treated for stress. Trade union FLT also confirmed that as of early July, many employees have refused to accept the dismissals, and several are considering to take legal action with the help of union lawyers.
Eurofound (2016), FMC Subsea, Internal restructuring in Norway, factsheet number 86947, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86947.
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