ABB in ‘job cuts’ over offshore market slump

ABB_Statoil_Troll4_press_JS22 September 2015, News Wires – ABB intends to shed up to 260 jobs in Norway due to an offshore market slump, according to a report.

The company has informed Norwegian employees of the “capacity adjustments due to long-term weakness especially in the oil and gas-related industry” that accounts for a large slice of its work in the country, local news site reported.

The manpower cutbacks are being made despite a recent award to the Swiss power and automation contractor of a Nkr700 million ($85.44 million) cable-laying job for the under-development Johan Sverdrup field off Norway.

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