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 Extraction Of Crude Petroleum And Natural Gas 06.10 - Extraction of crude petroleum
110 jobs Number of planned job losses
Announcement Date
15 January 2015
Employment effect (start)
1 May 2015
Foreseen end date
1 June 2015
Description
Oil company BP is downsizing its activity in the North Sea, reducing its staff in Norway by at least 110. At the time of the announcement, it was yet to be determined who and exactly how many would be affected by the restructuring. The details of the restructuring are expected to be worked out by May, at the latest. Hired consultants from various professions will likely make up the majority of the cuts, according the company. BP has been downsizing internationally since the oil spill in the Gulf of Mexico in 2010 and announced further cuts in December 2014. The process is now being sped up due to the fall of oil prices. At the end of January, BP announced it is freezing the salaries of almost all its employees. This does not, however, apply to those employees in the North Sea who are covered by Norwegian collective agreements. BP currently employs about 4000 in the North Sea. Other oil companies including Shell, Chevron and Statoil are also scaling down their activity in the area.
Sources
15 January 2015: Nettavisen
27 January 2015: Stavanger Aftenblad
15 January 2015: NRK
15 January 2015: Sysla
Citation
Eurofound (2015), BP Norge, Internal restructuring in Norway, factsheet number 78774, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78774.
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