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.
Norse Atlantic ASA, a Norwegian airline, announced 75 administrative job cuts under its Project Falcon cost reduction program, for 2026. The 75 dismissals makes up arounf 35% of the administrative staff, and involves moving the head office to Oslo while the Arendal office will close. In addition, 43 cabin crew were dismissed in the fall of 2025 while the remaining 37 cabin crew members based in Norway were furloughed from May 2026. The restructuring is driven by financial pressure from high fuel costs and market volatility, and includes a digital transition with simplified IT and partner systems, a more flexible base structure and revised crew agreements.
Trade union representatives have expressed hope in saving remaining jobs but also stated that the current uncertainty is hard on the employees, and that they are disappointed that the Norwegian company seems to be failing to protect jobs in Norway while running its flights with foreign based crew members.
Eurofound (2026), Norse Atlantic Airways, Internal restructuring in Norway, factsheet number 300556, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300556.
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