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.
Oil service equipment provider FMC Technologies is restructuring in Norway, cutting a total 120 jobs in Kristiansund, Florø and Ågotnes. The cuts include both onshore and offshore positions. The company is downsizing in subsea installation and maintenance, in response to falling demand. The company slowed down and subsequently froze all hiring in 2014, before resorting to cuts in 2015. At the time of the announcement, it was yet undetermined which employees would be let go and whether severance packages would be offered. The decision is to be made in dialogue with union representatives.
Union representatives in Ågotnes say the employees are disappointed though not taken by surprise, as the difficult market situation has been known for some time. They are calling for a thorough and fair process in the difficult negotiations about the restructuring.
Eurofound (2015), FMC Technologies, Internal restructuring in Norway, factsheet number 78764, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78764.