Jun 5, 2015
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Oil services group Subsea 7, announces reduction in the global workforce by approximately 2,500.
Oil services group Subsea 7, which is based in Luxembourg but listed on the Oslo stock exchange, announced that it would cut close to a fifth of its workforce and sell a quarter of its fleet because of falling oil prices. The overall reduction in the global workforce would be approximately 2,500 by early 2016, down from the 13,000 reported at the end of 2014. Like many of its rivals, Subsea 7 has suffered from the slump in oil prices, which has forced many energy groups to postpone or cancel investments and projects.
English: http://www.thelocal.no/20150513/norway-oil
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.