BW Offshore heralds additional layoffs

Norway's BW Offshore plans to axe 35 percent of its onshore employees, and the cut positions will not come back, says the company's CFO on Friday, according to Dagens Næringsliv.

Photo: Statoil

Offshore company, whose share has tumbled 50 percent on the Oslo Stock Exchange since the beginning of the year, announced on Friday that there will be more staff reductions. And drastic steps are being taken to handle the extremely weak activity in the offshore sector.

BW Offshore operates primarily in FPSO facilities (Floating Production, Storage and Offloading), and the company will now bid farewell to 35 percent of the onshore employees at offices in Oslo and Arendal in Norway, as well as at the largest foreign offices in Singapore and Rio de Janeiro, writes Norwegian media Dagens Næringsliv.

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