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.
Petroleum services company Rosenberg WorleyParsons, which operates a shipyard in Stavanger, is aiming to hire 200 new employees by the end of 2017. The company downsized its staff as crude oil prices fell, from 700 to 450 employees. 100 employees were dismissed (see previous case Rosenberg Worleyparsons 2015NO) and an additional 150 were temporarily laid off. 40 of the employees who were temporarily laid off are already back to work, and the rest will follow shortly. In addition, the company has stated that it is now hiring an additional 200 employees. The process will be completed by the end of 2017, when the company will total around 800 employees. This job creation is largely a result of several new projects that the company has been contracted to complete before 2020, some of which are related to the large-scale developments of the Johan Sverdrup and Martin Linge oil fields. Rosenberg is thus one of very few companies in the Norwegian petroleum sector that is now increasing its staff again after the economic downturn that hit the sector. This has sparked considerable interest among job-seekers, and the company reports that it received more that 500 applications, many from highly qualified applicants, in the first week following the announcement.
In addition, Rosenberg has recently announced that it is joining forces with the machining company Aarbakke to be able to secure larger contracts, an effort which is planned to create NOK 200 million (around €22 million) in revenue and an additional 140 jobs, if successful.
Eurofound (2017), Rosenberg WorleyParsons , Business expansion in Norway, factsheet number 90539, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90539.
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