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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.92 - Manufacture of machinery for mining, quarrying and construction
330 - 605 jobs Number of planned job losses
Announcement Date
2 March 2015
Employment effect (start)
10 February 2015
Foreseen end date
30 June 2015
Description
Drilling equipment manufacturer MH Wirth is reducing its staff by 750 permanent positions, of which 230 will be cut in Norway. Some 150 jobs will be lost in Kristiansand while the rest of the job cuts will be spread between the offices in Stavanger, Bergen, Horten, Lyngdal and Oslo.
MH Wirth currently employs 4,200 people globally, of which almost 1,600 in Kristiansand.
The low oil price and a resulting fall in demand is the main reason for the restructuring. A reduction of 75 jobs will be achieved by natural wastage, while the rest will be dismissed. In addition to these reductions of permanent staff, the company is not renewing contracts with most of its 300 contracted consultants in Norway.
Updated, 29/5/15: MHWirth has confirmed that a further 100 employees have received notifications of dismissal in May. These dismissals come in addition to the 750 redundant position described above.
The restructuring has developed in three overlapping steps. The first followed the announcement in March. 184 employees have been dismissed, about 40 quit their jobs and the company ended the contracts with most of its consultants. 250 consultants will have ended their engagement by July 1.
A second round in April involved 100 employees warned of temporary dismissal, while the third round involves 100 permanent dismissals. There is some overlap between the employees affected by the second and third round. The third round of dismissals will be in effectuated from the end of May
Sources
2 March 2015: KRS247.no
10 February 2015: Fædrelandsvennen
10 February 2015: Fædrelandsvennen
10 February 2015: Dagens Næringsliv
Citation
Eurofound (2015), MHWirth , Internal restructuring in Norway, factsheet number 78754, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78754.
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