The largest provider of subsea equipment to the industry, FMC Technologies, has notified the employees in Norway of its decision to cut up to 700 jobs.
Workforce adjustment comes as a result of activity decline in the oil & gas industry and the company’s efforts to position its business in response to market conditions.
At the end of March this year, the Houston-based company estimated close to $1 billion drop in its 2016 Subsea revenue versus last year.
New round of downsizing follows last year’s layoffs which affected bases in Ågotnes, Stavanger, Kongsberg, Asker, Kristiansund and Floro with more than 500 jobs lost.
The staff was informed this week, and according to, Kjersti Løken , FMC Technologies’ communication and marketing manager-Subsea Eastern Region, the company is now working with Norwegian Union representatives in accordance with the Work Environment Act as well as other Agreements to conclude on the selection criteria and selection areas.
The company is said to expect the redundancy process to take some months.
Subsea World News Staff