Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Oil company Aker BP is terminating its contracts with 250 of its 700 consultants currently working for the company, in response to falling crude oil prices. Aker BP is reducing its activity, which will likely also entail dismissal of a significant number of permanent employees in the near future. Final numbers are yet to be announced and will depend on ongoing anlyses related to future levels of activity.
The scale and nature of the remaining restructuring will be decided after deliberations with union representatives. The union has stated that it expects contracts with consultants and temporary workers to be terminated before permanent employees are dismissed, and that the union is now focusing on ensuring that the restructuring is conducted in a fair manner.
Eurofound (2020), Aker BP, Internal restructuring in Norway, factsheet number 100424, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100424.