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.
Mining / Quarrying Mining And Quarrying Mining Support Service Activities 09.10 - Support activities for petroleum and natural gas extraction
100 jobs Number of planned job losses
Announcement Date
12 March 2014
Employment effect (start)
1 April 2014
Foreseen end date
1 June 2014
Description
Oil and gas drilling services company Weatherford is reducing its staff in Sandnes, Norway, by 100 employees. Weatherford Norway, with 530 employees in Sandnes, will be dismissing 50 to 60 of its permanent employees. In addition, hired and temporary employees will also be let go, adding up to a total reduction of 100 jobs. The restructuring process will be completed before this summer.
The restructuring is part of a larger effort to reduce costs within the company, resulting in around 7,000 job cuts worldwide.
The employees were informed of the decision on 12 March. Union representatives were taken by surprise by the announcement, although they had been aware about the company’s difficult financial situation. Early pensions, severance packages and help for reemployment will be offered to some employees.
Sources
12 March 2014: Aftenposten
12 March 2014: Stavanger Aftenblad
Citation
Eurofound (2014), Weatherford Norge, Internal restructuring in Norway, factsheet number 76708, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76708.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
