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.
Kongsberg Maritime, which delivers systems for positioning, surveying, navigation and automation to merchant vessels and offshore installations, will cut 120 jobs in Norway. The downturn in the offshore drilling market is the primary cause of the job cuts. These cuts will affect all Norwegian locations, including Kongsberg, Asker, Sandefjord and Horten. All employees in Norway will be eligible to apply for voluntary severance packages, which the company hopes will be sufficient to achieve the desired downsizing without direct dismissals. The process will start at the end of May 2017 and is scheduled to be completed by the end of the second quarter of the year.
Before this round of cuts, Kongsberg Maritime (part of the Kongsberg Gruppen) employed 4,000 people worldwide, of whom 1,800 in Norway. The company has recently undertaken a restructuring processes, as previously reported (see Kongsberg Maritime 2015 NO). Union representative Geir Hasnes in Kongsberg Maritime says that most employees were not surprised by the cut and that union representatives were involved in the process and did not disagree with management's decision.
Eurofound (2017), Kongsberg Maritime, Internal restructuring in Norway, factsheet number 91027, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91027.
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