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.
Aibel, a leading service provider to the Norwegian offshore oil and gas industry, is to cut at least 230 jobs in Norway. About 180 engineering and management jobs will be cut, mainly in Bergen, Stavanger, Harstad and Stjørdal. The rest of the reductions will be split between all of Abelia’s units in Norway. In addition, there will be reductions in staff in Singapore and in Petersfield, UK.
The restructuring is due to worsening market conditions since the start of 2014, especially following budget cuts in Statoil, a major customer. Aibel will have to secure new contracts to avoid additional downsizing.
The restructuring process starts immediately, and the dismissal period will be starting April 1st. Severance packages are not being considered at this point, and at least parts of the reduction will be accomplished by direct dismissals.
The ERM reported on job cuts at Aibel previously in 2009.
Eurofound (2014), Aibel, Internal restructuring in Norway, factsheet number 76682, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76682.