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.
Petroleum services company Aker Solutions is to cut up to 200 jobs at its site in Ågotnes, Norway. Employees were informed of the "adjustment" in a plenary meeting on June 11. The cuts will be accomplished by natural wastage, dismissals and by transferring employees to other parts of the company. The company is adjusting the capacity at the subsea service base at Ågotnes to match a lower level of activity in the Norwegian market, after the drop in crude oil prices. Oil companies are lowering their costs and postponing projects, which impacts Aker Solutions' subsea activity. Aker Solutions has already undergone several restructuring processes. The most recent was announced in February, affecting 300 jobs in maintenance, modifications and operations. In addition, the company has dismissed more than 500 employees over the last year.
Eurofound (2015), Aker Solutions, Internal restructuring in Norway, factsheet number 83686, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83686.