Statoil has performed several severe cutbacks in its workforce alongside the sliding oil price, and this trend will continue, report Norwegian media on Monday.

The company will cut 20 percent in the technical area, where Statoil employs 12,000 workers. This could mean that 2,400 Statoil employees will be laid off, according to Norwegian newspapers Dagens Næringsliv and Teknisk Ukeblad.