Oil crisis triggers upwards of 260 layoffs in ABB

Tough times in the oil and gas sector leads the Swedish-Swiss electronics giant ABB to lay off up to 260 employees, reports Norwegian maritime media Sysla.

Photo: ABB

On Thursday ABB informed its employees that staff cuts are underway which will lead to the dismissal of up to 260 employees, according to Norwegian maritime media Sysla.

ABB's Head of Press Peter Tubaas tells Sysla that the main reason behind the layoffs is the low oil price and the oil companies and shipbuilders' reduced willingness to invest.

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