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.
Mining / Quarrying Mining And Quarrying Mining Support Service Activities 09.10 - Support activities for petroleum and natural gas extraction
130 - 140 jobs Number of planned job losses
Announcement Date
21 July 2016
Employment effect (start)
1 August 2016
Foreseen end date
1 January 2016
Description
Offshore drilling company Maersk Drilling is to cut at least 130 jobs in Norway, as two drilling rigs will be off contract by the end of the year.
The fall in crude oil prices and subsequent reduced activity in the North Sea has resulted in a difficult contract situation for the company, which has undergone previous rounds of restructuring in the last year - first in the fall of 2015 (Maersk Drilling Norge 2015 NO), before an additional 70 employees were made redundant when the company failed to get a new contract for drilling rig Maersk Reacher in March 2016.
The contract for Mærsk Gallant expires this fall, while Maersk Inspirer is concluding its contract with Statoil at the end of the year. The cuts were first made public by trade union MAF, which cites company documents saying that the restructuring process will be accomplished in two rounds; first, when Maersk Gallant's contract expires in quarter 3, and secondly when Maersk Inspirer ends its work in quarter 4. The cuts will not affect all current employees on these rigs, as some will be transferred to a new rig (XLE4) between October and February 2017. CEO Jakob Korsgaard confirms that 130-140 jobs offshore will be cut, and that the cuts will be made from August until the end of the year. The union has been engaged in formal dialogue with the company over the past few weeks. Union representatives state that another round of restructuring highly regrettable.
Sources
20 July 2016: MAF
20 July 2016: Petro
21 July 2016: E24
21 July 2016: Sysla
Citation
Eurofound (2016), Maersk Drilling Norge, Internal restructuring in Norway, factsheet number 88202, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88202.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
