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.
Kongsberg Maritime, which delivers navigation and positioning systems, is cutting its staff by 200 employees. The restructuring will initially affect employees working with the offshore market, on various locations in Norway. Kongsberg Maritime is part of the Kongsberg Group, and had 4.763 employees at the end of June, including about 3000 in Norway. The restructuring will mainly affect Norwegian employees at the company's headquarters, but it is not yet determined exactly where the cuts will be made. Direct dismissals will be necessary, although the cuts will be made through natural wastage and repositioning within the Kongsberg Group as far as possible. The restructuring will affect permanent employees as well as consultants and temporary employees. Further cuts in the future are not ruled out at this point. The main rationale behind the restructuring is the downturn in the offshore market following the fall of crude oil prices. Unions representatives in NITO and Tekna, which both organize workers in Kongsberg Maritime, state that many employees now fear for their jobs, but add that further cuts in the petroleum sector do not come as a surprise at this point.
Eurofound (2015), Kongsberg Maritime, Internal restructuring in Norway, factsheet number 85192, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85192.