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.

BY SØREN SPRINGBORG, ENERGIWATCH

Published: 07.12.15 at 14:57

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

Access all locked articles
Receive our daily newsletters
Access our app

Start a free company trial today

"The challenges we face as an industry require more skills and competencies"

Foto: Lucy Nicholson/Reuters/Ritzau Scanpix

They are a generation of future maritime leaders shaped both by Covid-19 and shutdowns and now by a world filled with tension. Four potential future managers enrolled in the Blue MBA program give their take on why it is important to improve your skills.

Leading shippers prepared to pay 10% extra for sustainable transportation

Shippers are willing to pay more for ”green” transportation if it’s reliable. But they have to state their wishes more clearly, and prices have to be lowered, writes McKinsey in a new report, which provides suggestions for how to accelerate decarbonization.