In a stock exchange announcement Thursday writing company Electromagnetic Geoservices ASA (EMGS) that they are going to make several changes in the organization to reduce costs and increase efficiency.
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– There are around 25 people who lose their jobs globally. 12 of those sitting in Norway, but I do not know how the distribution will be between Oslo office and main office in Trondheim, says Charlotte Knudsen, head of investor relations at EMGS.
The company’s 181 employees were informed of the cuts under an open meeting Wednesday. 106 of these are located in Norway, and they are 80 office in Trondheim.
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Saves over 80 million
the company operates with 3D modeling of oilfield. In one year, the value of shares in the company fell by almost 90 percent.
– Those who are offshore will not be affected by this. But it will be cut into everything from management to engineers on land.
The company will include merging or centralizing certain departments, and changes to reduce the number of employees by around 15 percent globally. The company expects that the changes will lead to a cost reduction of 10 million US dollars a year. There are about 82.7 million Norwegian kroner.
– We will probably not see the cost reduction this year, but the future is the goal.
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Will streamline
– While interest our technology continues to be high postpone, cancel or reduce our customers orders, which leads to a lower demand for our products, says CEO of EMGS, Christiaan Vermeijden in a stock exchange announcement.
– We will continue to focus on cost control and cash flow, and will therefore make changes to streamline the organization, says Vermeijden.
the company was founded in 2002 and headquartered in Trondheim. They have four ships that collect information to 3D models, and, according to its website conducted over 700 investigations.
In addition to the two offices in Norway, the company also has offices in Houston, Rio de Janeiro and Kuala Lumpur.
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