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.
FMC Kongsberg Subsea, manufacturer of equipment for offshore oil and gas installations, is to cut 130 jobs before 1 March 2014. Affected employees will be exclusively in staff and support positions that are not directly involved with manufacturing.
The measure is due to a larger restructuring plan aimed at making the company more competitive. The restructuring started in September 2013, when the company terminated the contracts of 160 external consultants.
As to date, the company’s locations affected by the restructuring are unknown. The management is in negotiations with unions. The latter have criticised the company’s move, but report on a constructive dialogue with the management.
FMC Kongsberg Subsea is the Norwegian branch of FMC Technologies. FMC Technologies, headquartered in Houston (US), operates 27 production facilities in 16 countries, employing about 14,500 staff in total.
Eurofound (2014), FMC Kongsberg Subsea, Internal restructuring in Norway, factsheet number 76430, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76430.