Statoil preparing new giant cuts

Statoil recently cut 239 jobs in administration and IT in order to reduce the company's expenses. According to Norwegian newspaper Stavanger Aftenblad the oil giant now plans to cut around USD 163 million from its land-based facilities.

Photo: Trond Isaksen

Statoil's plan to reduce the its towering costs in Norway could now impact the company's land-based facilities. Norwegian newspaper Dagens Næringsliv, referencing the often well-informed paper Stavanger Aftenblad, reports that the Norwegian oil giant plans to cut costs at the land-based facilities in Norway by around USD 163 million over the next three years.

Just a few days ago Statoil announced a plan to reduce costs related to IT, finance, and administration by cutting 239 jobs in Norway, instead outsourcing the jobs to low-wage countries. Like several other players in the Norwegian energy sector, Statoil feels that the country's salaries constitute a problem for the Norwegian companies, several of which have already accepted the consequence and moved abroad.

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