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.
Offshore drilling company Dolphin Drilling is set to dismiss 180 employees due to an expiring contract and no new missions for the Bideford Dolphin drilling rig. The current contract expires in January 2017, and Dolphin Drilling will issue formal warnings of redundancy to all offshore employees. Trade union representatives confirm that talks about another round of restructuring have been initiated, and CEO Hjalmar Krogseth Moe states that the cuts will affect about 180 employees. The fall in crude oil prices and subsequent lowering of activity and investment on the Norwegian continental shelf has hit both Dolphin Drilling and other companies in the sector hard. Dolphin Drilling dismissed 180 employees in the spring of 2015 and an additional 180 employees in the summer of 2016.
Eurofound (2016), Dolpin Drilling, Internal restructuring in Norway, factsheet number 88637, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88637.