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.
Beerenberg, a company providing maintenance services for the oil- and gas industry, is reducing its staff by a total of 500 employees. The company first announced a restructuring in September with an estimate of 250 positions cut. On 10 October, it was announced that 250 additional positions will be cut, bringing the total to 500. The first cuts were announced when Beerenberg did not get a renewal of a contract concerning the Ekofisk oil field. This first part of the restructuring is planned to be completed by the end of the year, while the additional 250 positions will be cut when another major project is completed in the spring of 2017. The difficult market situation in the wake of falling crude prices and reduced investment in the petroleum sector has affected the company heavily. Beerenberg cut its staff by 150 in the fall of 2014, and by an additional 250 in 2015. The company's employees are mainly located in Bergen and Stavanger, as well as offshore.
Eurofound (2016), Beerenberg, Internal restructuring in Norway, factsheet number 88870, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88870.