Subsea 7 cuts 3,000 employees

Agility Subsea FabricationPhoto: Agility Subsea Fabrication

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The oil service company Subsea 7 will cut 3,000 employees from the workforce by the second quarter of next year. It is uncertain how hard it will hit employees in Norway.

In total, the oil service company has 12,000 employees, and thus one in four will lose their jobs, writes E24 and Dagens Næringsliv.

In a stock exchange announcement, the company states that about two-thirds of the cuts will apply to temporary employees and one-third will apply to permanent employees. The company will now discuss the cuts with union representatives, but it is not known how much of the workforce in Norway will be affected. In total, there are just over 80 offshore employees at Subsea 7 Norway.

Tore Heggheim, who is representative for 61 people in the SAFE union at Subsea 7 Norway, tells E24 that they have not received any information and that they currently have work until the autumn for everyone.

“We went through a fairly extensive downsizing in connection with the previous downturn. I hope the biggest cuts are taken overseas,” Heggheim told the site.

The report also states that Subsea 7 will reduce the active fleet by up to ten vessels over the next year. The cuts will amount to about $400 million annually.

© NTB Scanpix / #Norway Today

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