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 Norwegian subsidiary of American oilfield services company Baker Hughes is dismissing 150 employees in Norway. In addition, temporary employees and consultants will not have their contracts renewed.
CEO Eivind Østerhus states that the restructuring is due to a combination of recent results and future prospects. Cutbacks at Statoil and other big companies are seen as an indication that the future prospects have worsened, and the company is adapting by cutting its staff. The restructuring process is estimated to take three months.
Union representative in Safe, Rolf Onarheim, says the dismissals were highly surprising. The union does not see that the dismissals can be a necessity, as the company is showing solid results.
Eurofound (2014), Baker Hughes Norge, Internal restructuring in Norway, factsheet number 77279, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77279.