The Kongsberg Group cuts 130 employees

Chief Executive of Kongsberg group Geir HåøyChief Executive of Kongsberg group Geir Håøy.Photo: Terje Pedersen / NTB scanpix

The Kongsberg Group cuts 130 employees in Norway

the Kongsberg Group is downsizing. 130 persons will lose their job, but all employees will be offered a severance package.

 

The downsizing is due to the fact that two of the four units that make up the Kongsberg Group are merged into one, Nettavisen writes. The affected divisions are Kongsberg Protech Systems (KPS) and Kongsberg Defense Systems (KDS).

Kongsberg Protech Systems has suffered a significant decline in income, which was 18.4 per cent less in the second quarter of this year compared to last year.

– A strong and well-coordinated market function is central to winning important programs that drive the entire group’s value creation in the future, says CEO of Kongsberg Group,Geir Håøy, in a statement from the company.

It is obvious that the conglomerate is struggling as they have shut down several divisions recently.

 

© NTB Scanpix / Norway Today

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