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. 28.13 - Manufacture of other pumps and compressors
200 jobs Number of planned job losses
Announcement Date
6 October 2015
Employment effect (start)
1 December 2015
Foreseen end date
31 January 2015
Description
OneSubsea, which delivers subsea processing systems to the petroleum industry, is set to cut up to 200 employees in Norway, mainly in Bergen. OneSubsea has headquarters in Houston, Texas, and about 900 employees in Norway. The declining level of activity in the petroleum sector following the fall in crude prices and reduced investement in petroleum extraction on the Norwegian continental shelf has affected the petroleum services market heavily. The restructuring is a response to this market situation, with a lack of new projects. Most of the affected employees will be located in the Bergen area. The exact number of employees to be dismissed is yet to be determined, but will be 'up to 200' according to the company's management. It is not yet determined whether all employees will be directly dismissed or if some will be offered severance packages. Temporary dismissals may also be used. Additional cuts are not ruled out, but dependent on the market situation next year.
Sources
6 October 2015: Bergens Tidende
6 October 2015: Sysla
Citation
Eurofound (2015), OneSubsea Processing, Internal restructuring in Norway, factsheet number 85170, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85170.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
