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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.11 - Building of ships and floating structures
100 jobs Number of planned job losses
Announcement Date
8 October 2014
Employment effect (start)
1 January 2015
Foreseen end date
Description
Rosenberg Worleyparsons, a Norwegian engineering solution firm, is cutting staff at its shipyard in Stavanger by 100 employees.
Rosenberg almost exclusively delivers to the petroleum industry, and low investment activity in the North Sea and falling demand for construction of ships and oil platforms necessitates that the company cuts costs. The restructuring will affect both production workers and engineers. At the time of the announcement, the timeframe for the restructuring was set to "some months". Redundancy packages are not being offered, as the job cuts are implemented through direct dismissals, non-renewal of fixed-term contracts and early retirement.
The company is currently working on securing new contracts, but the situation is still difficult, not least due to the cancellation of the development of the Tommeliten Alpha oil field in March 2015. In April, the company completed a major subsea-installation, and announced that it is looking to get new contracts in subsea installations.
Rosenberg is one of several companies downsizing in response to the reduced oil price and rate of investment in the North Sea. About 10,000 jobs have been cut in the Norwegian petroleum sector over the past year. Statistics Norway has estimated that as much as 30,000 jobs directly related to petroleum investment activity may be cut before 2018.
Sources
10 October 2014: Stavanger Aftenblad
28 March 2015: Stavanger Aftenblad
9 April 2015: Stavanger Aftenblad
18 February 2015: Sysla
Citation
Eurofound (2014), Rosenberg Worleyparsons, Internal restructuring in Norway, factsheet number 79222, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79222.
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