Subsea 7 Axes Almost 150 Jobs in Norway

The UK-based oil services company Subsea 7 is reported to be letting go almost 150 employees in Norway.

Namely, the company said last September that it was planning to cut costs by reducing its headcount, largely due to project delays, but didn’t specify which areas will be cut.

According to the latest reports, the company revealed that its Norway headquarters in Stavanger will be the most affected, with 108 slated to be laid off.

In addition, the company’s staff in Vigra, Oslo and Kristiansund have also been slashed.

Earlier in September, the Subsea 7 spokesman, who said the lay-offs would affect between 100 – 150 staff, explained the causes of downsizing: “In recent months, we have seen further delays to the project that is being planned. This is a continuation of a trend we have seen in the Norwegian market.”

Furthermore, Stig Roar Lyse Rødne of Subsea 7 told Aftenblad that all have been offered severance packages, and it is after all very good, and that all unions meetings with the company were effective.

Moreover, other subsea services contractors have also announced job cuts. Specifically, Norwegian offshore vessel owners DOF Subsea and Island Offshore are reportedly set to let go more than 100 workers mostly due to cost cutbacks by major client Statoil and other operators.