National Oilwell Varco To Cut Another 900 Norwegian Jobs

National Oilwell Varco To Cut Another 900 Norwegian Jobs
National Oilwell Varco will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders.

Reuters

OSLO, Dec 7 (Reuters) – U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.

The layoffs come on top of cuts announced in June when the company said it would cut 900 permanent jobs and 600 contractors from its Norwegian workforce by the end of this year.

The cuts announced on Monday were all permanent jobs, the company said in a statement. Following the latest round, National Oilwell Varco will have laid off about half of its staff in Norway.

(Reporting by Terje Solsvik; editing by David Clarke)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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Prettyeyes | Dec. 8, 2015
NOV has been laying people off all year. They are constantly letting people go in the Houston area. Yet, none of the upper management are being let go. Only what appears to be the true workers. NOV is top heavy and if it continues on its current path, it will surely topple over. Best of luck to the displaced.


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