FMC Technologies will reduce its Norwegian operations by 700 jobs in coming months, after taking a number of efforts to adjust to the low oil price environment, the company told OE.
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Image from FMC. |
“We informed our employees in Norway this week that we’ve made the difficult decision to cut up to 700 jobs in Norway in response to market conditions,” Lisa Adams, FMC PR and digital communications manager said in a statement to OE. “We are now working with Norwegian Union representatives in accordance with the Work Environment Act as well as other Agreements to conclude on the selection criteria and selection areas. We expect the redundancy process will take some months.”
FMC said that the workforce reduction is part of the dramatic decline in oil and natural gas prices and decreased customer activities the company has suffered.
“FMC Technologies has undertaken a number of efforts to adjust our business. As part of these efforts, we’ve had to evaluate the size of our workforce,” the company said.
FMC isn’t alone in the workforce reduction ring. This week alone, Murphy Oil said it plans to cut an unknown amount of jobs at its company. In addition, Freeport-McMoRan terminated four of its top executive positions.
Last week, Brazilian giant Petrobras announced it was calling for voluntary layoffs in order to save some US$9 billion. The news came one day after it revealed a new organizational and management governance model that will see a 43% reduction in its 5300 managerial positions.
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