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
New offshoring locations
United Kingdom
125 - 145 jobs Number of planned job losses
Announcement Date
29 September 2014
Employment effect (start)
1 October 2014
Foreseen end date
1 January 2015
Description
GE Oil & Gas is cutting between 125 and 145 jobs in Norway. More than 100 of these positions will be cut at the company's offices in Sandvika and Billingstad, both in Akershus. Some cuts will also be made in Trondheim, where the company has 30 employees. The company's subsea services based in Stavanger will not be affected. The affected employees are administrative staff and engineers. The restructuring is mainly due to the decline in investment and activity in the Norwegian petroleum sector, but is also a move to adapt to a changing global market. The Norwegian subsidiary is fully owned by GE Oil and Gas, which plans to transfer project management positions from Norway to Bristol and Aberdeen. Further job cuts are so far not planned outside of Norway. Affected employees will be offered severance packages and support in finding jobs elsewhere, both within and outside GE.
Sources
30 September 2014: Stavanger Aftenblad
29 September 2014: E24
Citation
Eurofound (2014), GE Oil & Gas, Offshoring/Delocalisation in Norway, factsheet number 77673, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77673.
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