10,000 oil jobs are gone – HegnarOnline

10,000 oil jobs are gone – HegnarOnline

When the world’s largest oil company presented the figures for the fourth quarter yesterday, it was also known that they are about to undertake the largest downsizing in the company’s history. 9,000 people – 7.1 percent of the total workforce – must find new work, writes Finansavisen.

– In this uncertain environment, we continue to focus on what we can control. We have already implemented several measures to restructure and adapt the organization, says CEO Paal Kibsgaard Schlumberger to Bloomberg.

Schlumberger will not say anything about the extent of Norwegian job cuts, but after that Finansavisen experiencing it in some departments indicated that 10-15 percent of the employees are dismissed. With just over 2,000 employees in Norway will say that around 250 Norwegian jobs may be in danger.

10,000 oil jobs
DNB Markets’ list of announced job cuts in the Norwegian oil industry from late December show that between 8900 and 9400 positions have gone since 2013. But with cuts that have been announced since Christmas and it notified Schlumberger cut, evidently defection of Norwegian oil jobs passed 10,000, in an industry that employs about 200,000. This included the loss of around 1,700 FTEs in hired labor.

– The dramatic fall in oil prices over the last quarter has led to our customers have reduced exploration and production activity worldwide. As a result, Schlumberger adapt to a lower activity and this has unfortunately impact our employees and operations in the North Sea, says communications manager Lianne Olsen Schlumberger Norway Finansavisen, adding:

– In Norway we introduced a number of restructuring measures last year, and our main focus has been to reduce the number of consultants and employees at international contract and natural wastage.

Pending new cuts
According to Director Knut E. Sunde employer organization Norwegian Industrial think the actual downsizing numbers are larger and show to the undergrowth of small players who do not disclose their job cuts. He believes it will take several years before the downsizing in the oil industry is finished.

– We have not seen the latest round of tightening to speak. When this kind of shake happens all history suggests that tightening comes in several rounds, says Sunde Finansavisen adding:

– There are two things one can say about this now. One is that we are unimaginably fortunate that Johan Sverdrup project going now. The second is that there is no doubt that this industry will lose volume in future.

Read more in Saturday’s edition of Finansavisen!