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.
The American car manufacturer Tesla is cutting approximately 10% of its workforce in Norway, affecting around 150 employees across various functions. This is part of a global restructuring effort affecting around 14,000 employees worldwide, as previously recorded in the ERM database Tesla-2024-WO.
The global restructuring, first announced in mid-April 2024, is part of Tesla's strategy to streamline operations and prepare for future growth. In order to achieve the workforce reduction, Tesla Norway has offered voluntary severance packages to all its employees, including those recently hired. The severance packages include at least three months of full salary without work obligations, with some employees eligible for up to 15 months of salary. The high interest in these packages reportedly led the company to shorten the acceptance period from one week to three days.
Tesla is the best selling car manufacturer in Norway with a market share of 20 percent, and has 23 sales locations and 27 service centers in the country.
Eurofound (2024), Tesla Motors Norway, Internal restructuring in Norway, factsheet number 201187, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201187.