Dark day for Norwegian offshore as hundreds are laid off

The hard-pressed employees in the Norwegian oil sector today, Monday, witnessed one of the so far most extensive rounds of layoffs yet. This time, the cuts are attributed to the drought in orders.

Photo: COSL

Things are going from bad to worse for the Norwegian oil industry. Since August last year, when the price started to plummet for real, far more than 24,000 people have been laid off in the sector. And today Norway was hit by one of the biggest round of layoffs so far. US-based oil company National Oilwell Varco announced much bigger cuts than initially reported.

The company not only maintains the 900 jobs cut among full-time employees plus 600 among part-time employees that were announced this summer. Another 900 now also look set to leave the company, which thus looks set to cut its Norwegian workforce in half - from 4,800 to 2,400 - in less than six months.

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