Kongsberg Group cuts 260 jobs

NSM kongsberg missile testThe NSM is the state of the art Naval missile system from the Kongsberg Group. Photo: Kongsberg Group.

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The acquisition of Rolls-Royce Commercial Marine means that
Kongsberg Gruppe will reduces the number of full-time employees by 260.

This became clear when the Group’s profit for the first quarter was presented on Friday. The presentation was the first since the NOK billion purchase was formally completed on 1 April.

“We are currently holding meetings in the organization today, and we will reduce the number of full-time employees by 260” said CFO Lisa E. Haugan of Kongsberg Marine according to E24news.

Various measures will be implemented to ensure annual savings of around NOK 200 million. By 2022, the savings will be 500 million per year.

20 offices will be closed down and the Vung Tau plant in Vietnam will be sold.

‘’We are already in the process of taking out synergies. The goal is
ambitious, but profitability in the short term is our best strategy in the long term. The measures are absolutely necessary to create profitability in today’s market, build bridges for the future, and to ensure sustainable growth, and jobs. Our ambition is to be the leading player in deliveries to the maritime industry going forward’’ said CEO, Geir Håøy.

© NTB Scanpix / #Norway Today

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