Type
Internal restructuring
Country
Norway
Region
Norge; Sør-Østlandet; Telemark
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Water Transport
50 - Water transport

150 jobs
Number of planned job losses
Job loss
Announcement Date
30 September 2008
Employment effect (start)
1 November 2008
Foreseen end date
1 November 2008

Description

Some 150 employees of the Norwegian ferry company Kystlink received their dismissal notices on 30th of September. Kystlink runs ferry lines between Langesund, Hirtshals (Denmark) and Strømstad (Sweden).

According to the managing director the company has lost money on these routes for years. The Board guarantees the operations and wages through October, but if not new investors turn up by 1st of November, the operations will be stopped.


Sources

  • 4 October 2008: Telemarksavisa
  • 30 September 2008: NRK
  • 1 October 2008: NRK
  • 4 October 2008: Varden

Citation

Eurofound (2008), Kystlink AS, Internal restructuring in Norway, factsheet number 67177, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67177.