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 company Shell is reducing the staff in its Norwegian subsidiary Norske Shell by 120 permanent positions and 140 consultants and hired workers.
100 of the permanent jobs will be cut at the headquarters in Stavanger and another 20 in Kristiansund. The downsizing will be implemented through voluntary means such as early retirement and severance packages, as far as possible.
Norske Shell has currently 900 employees and 350 hired consultants and workers in exploration and production in Norway. The reduction in hired workers and consultants will be made in Stavanger, Kristiansund and Nyhamna. Norske Shell has been restructuring its organization to reduce cost since spring 2014, and is now finishing a number of larger projects. The company is also adjusting to the lower price of crude oil, and first informed its employees that this could involve layoffs in February. The restructuring is a necessary response to the level of activity expected in the upcoming years, according to CEO Tor Arnesen.
Eurofound (2015), Norske Shell, Internal restructuring in Norway, factsheet number 79357, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79357.