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 09.1 - Support activities for petroleum and natural gas extraction
250 jobs Number of planned job losses
Announcement Date
19 September 2014
Employment effect (start)
1 October 2014
Foreseen end date
1 January 2015
Description
Drilling contracting company North Atlantic Drilling will be reducing its staff in Norway by at least 250 employees. The affected employees are mainly located in Hordaland and Rogaland. Some are from Agder, Trøndelag or the North-West of Norway. The restructuring plans have been known for a few weeks, but the scale of the reductions announced now is larger than what the local union was originally led to believe and had hoped for. The management has refused to provide an exact number until all employees affected have recieved written notice, which will happen this week, but has stated that it will be more than the 250 first projected.
The reason for the restructuring is that the offshore drilling company has not been awarded any new contracts on the Norwegian continental shelf and has shipped rigs elsewhere. The leader of the local union says that prospects are bleak for the whole industry, and expects other drilling companies to be forced to restructure as well, over the coming year.
Sources
29 August 2014: Stavanger Aftenblad
19 September 2014: Dagens Næringsliv
19 September 2014: Stavanger Aftenblad
Citation
Eurofound (2014), North Atlantic Drilling, Internal restructuring in Norway, factsheet number 77590, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77590.
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