Four out of ten industrial companies are considering or have initiated layoffs

At workAt work.Photo: Tore Meek / NTB scanpix

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Corona and oil price falls have consequences for many Norwegian industrial companies. Four out of ten have initiated or are considering layoffs, according to a study by Tekna.

The union has conducted a survey among its union representatives in the private sector. 58 per cent of union representatives say that the company in which they work is affected to a large or very large extent, while 25 per cent say that the fall in oil prices has a large or very large impact.

41 per cent of union representatives also respond that the business they work in has initiated or is considering layoffs, or staffing reductions.

“The numbers are dramatic. All parts of the Norwegian business sector are affected, and the proportion of employees who are laid off is record-high. The number of new layoff cases is expected to increase sharply until Easter,” says Tekna President Lise Lyngsnes Randeberg.

A total of 338 union representatives, who have around 82,000 members with a master’s degree or more in technology or science, responded to the survey.

© NTB Scanpix / #Norway Today

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