19 June 2014, News Wires – As many as 1400 jobs are reported to be under review at Statoil as part of a major cost-cutting effort by the Norwegian state-owned oil company.
Between 1100 and 1400 positions have been identified for changes that could involve redundancies under 25 internal restructuring projects to be carried out over the next two years, Norwegian publication Stavanger Aftenblad reported.
A Statoil spokesman said not all these posts were considered surplus to requirements, with the company having a natural turnover of 800 to 1000 positions each year.
He said some staff with their jobs under review could be reassigned to other positions at the company, although he did not rule out lay-offs with termination packages or early retirement likely to be offered to retrenched workers.
The proposed staff changes, presented to employees this week, are part of drastic cutbacks being targeted by the company as spiraling costs have eaten away at its profitability.