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 drilling company Transocean is cutting about 150 jobs in Norway. This round of restructuring is mainly due to the suspension of all activity on oil rig Transocean Spitsbergen, from mid November 2014. Transocean Spitsbergen is one of 15 rigs in Norwegian waters which have been suspended by oil company Statoil. Transocean employs 13000 worldwide, and currently operates six rigs in Norway.
At the time of the announcement, the final number of jobs cut was yet to be determined. CEO Asbjørn Olsen did not wish to elaborate on the restructuring process, but confirmed that the company had started the process and were in dialogue with the employees.
This is the second round of restructuring at Transocean in a short period of time. The first round was announced on September 4 2014, when Transocean decided to move drilling rig Polar Pioneer out of Norwegian waters. The first round of restructuring was estimated to affect 85 employees, later reduced to 68.
Eurofound (2014), Transocean, Internal restructuring in Norway, factsheet number 78779, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78779.