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 and gas services company Maersk Drilling Norge will dismiss 100 employees in Norway in response to falling crude oil prices and reduced oil demand due to COVID-19 pandemic and decreased economic activity and investments. Maersk Drilling will terminate production in several oil rigs and 250 to 300 employees in total will be dismissed in Norway, Denmark and Great Britain. The rig from the Norwegian continental shelf will be moved due to limited commercial opportunities in Norway. Affected employees were notified on April 24 2020.
An additional 50 Norwegian employees will be temporarily laid off after an agreement with the trade union Industri Energi to limit the number of direct dismissals to 100, although the company had planned a larger number. The local union representative describes the dismissals as a sad situation but also informed that the cooperation with management has been good and that the layoffs will adhere to the seniority principle.
Eurofound (2020), Maersk Drilling Norge, Internal restructuring in Norway, factsheet number 100383, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100383.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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