The biggest round of layoffs so far at Norwegian Statoil will now be initiated, the oil company confirms in a press release, following various speculations regarding the upcoming firings in Norwegian media. Up to 2,000 positions will be cut over the next 18 months. This concerns between 1100 and 1500 permanent positions at the oil company as well as consultants affiliated with Statoil, of which the company expects to lay off 525.

"We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation," says Anders Opedal, executive vice president and COO in Statoil, in a statement.