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.
Saga Fjordbase in Florø, one of the largest supply bases for petroleum activity in the North Sea, is cutting about 120 staff. Reduced activity means that the company will only be able to retain 60-70 employees by the end of 2015, while the staff today is equivalent to 180-190 full time positions.
The falling activity in the petroleum sector and loss of major contracts means that the company has to undergo a difficult restructuring process this year. The company reports that it is working closely with the unions to limit the number of employees who have to be dismissed.
Eurofound (2015), Saga Fjordbase, Internal restructuring in Norway, factsheet number 78762, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78762.