Type
Internal restructuring
Country
Norway
Region
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Mining Support Service Activities
09.1 - Support activities for petroleum and natural gas extraction

150 jobs
Number of planned job losses
Job loss
Announcement Date
3 July 2014
Employment effect (start)
3 July 2014
Foreseen end date
1 October 2014

Description

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.


Sources

  • 3 July 2014: Dagens Næringsliv (www.dn.no)

Citation

Eurofound (2014), Baker Hughes Norge, Internal restructuring in Norway, factsheet number 77279, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77279.