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.
Coast Center Base (CCB) is to cut at least 100 jobs, as its supply base in Ågotnes is no longer supplying Statoil’s oil fields in the North Sea. CCB will transfer some of the employees to the supply base at Mongstad, after having bought Mongstad base in February.
The plan for a possible restructuring in CCB was intially announced in September 2014. On 9 April 2015, the company confirmed that the restructuring would be completed and that the cuts will be permanent. The first dismissals were made in February 2015, and 25 percent of the cuts had been made by April. The process will be completed by the end of the year, and the next round of dismissals will be made in May.
The background for the restructuring is the fall in the price of oil and reduced investment activity 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.
Eurofound (2014), Coast Center Base, Internal restructuring in Norway, factsheet number 79223, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79223.