ABB targets green technologies after new layoffs

ABB's oil and gas division has just announced new cutbacks following the slowdown in the energy market. Development of products that can also be used for green technologies gives the business an extra leg, head of the division, Borghild Lunde, tells ShippingWatch.

Photo: ABB/PR

The ripple effect from the sliding oil prices continues to spread. In early June, one such ripple hit the Swiss-Swedish technology group ABB's Norwegian division for oil, gas and chemical with the news that the company, through reshuffles, resignations and natural departures, planned to reduce its staff by 120 employees.

The move is attributed to the fact that activity in the oil and gas sector is significantly lower than what ABB in Norway is staffed for.

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