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.
The oil company ConocoPhillips Norge announced on 13th February that it is going to cut 140 fte in the headquarters of its Norwegian subsidiary. This is part of a worldwide downsizing of 4% among the group's 36000 employees in 40 countries. The reasons stated are low oil prices and the financial crisis.
Both hired consultants, foreign and Norwegian employees will be included in the downsizing. The chief shop steward said to Stavanger Aftanblad that he does not expect the number of permanent employees to exceed 76 (4 % of 1900), and that he does not expect dismissals. To Petro & Energi he says that most of the cuts will hit hired personnel and foreign deployed employees, and that he hopes everybody will be aware of their situation before Easter. The union and management will now negotiate about further details. There are no more indications regarding the timetable.
Eurofound (2009), ConocoPhillips Norge, Internal restructuring in Norway, factsheet number 68185, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68185.
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