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 Aker Solutions will cut a total of 140 jobs in its production unit in Tranby, Norway over the first half of 2018. The production unit has until now been protected from ongoing restructuring processes in other parts of the company, as long term orders have shielded against the decline following the drop in crude oil prices. These projects are now nearing completion, and the company does not have new projects of the same magnitude. Union representative for Fellesforbundet in Aker Soultions Tranby states that the union has feared this development for some time, but hoped to avoid it. Deliberations between the company's management and the unions will now be made to identify whether some of the cuts can be made utilising early pensions, transfers to other parts of the company or natural wastage.
The planned cuts at Tranby are the latest of several rounds of restructuring in Aker Solutions in Norway since 2014 (see previous cases, Aker Solutions 2014 NO, 2015(1) NO and 2015(2) NO, 2017 NO). In Norway, the company reduced its staff by around 500 employees in 2015 and 600 in 2016. Global staff has been gradually reduced from 20,000 in 2014 to 14,000 at the beginning of 2017.
Eurofound (2017), Aker Solutions, Internal restructuring in Norway, factsheet number 91787, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91787.
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