National Oilwell Varco Lays Off Another 520 Staff In Norway
OSLO, April 22 (Reuters) - U.S. oilfield equipment maker and service provider National Oilwell Varco Inc will cut its Norwegian workforce by another 520 people after low oil prices resulted in fewer orders, the company said in a statement on Friday.
The latest round of cuts will reduce the company's staff in Norway to less than 2,000, down from almost 5,000 at the height of the oil industry's boom two years ago.
"The uncertain market situation means that we cannot say how extensive the downsizing process will be in the long run," NOV said.
The cuts announced on Friday were all permanent jobs, the company added.
(Reporting by Terje Solsvik; editing by Gwladys Fouche)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Robotics and Automation: The Oil, Gas Skillsets of the Future (Nov 15)
- Offshore Drillers Still Seeking Recovery Enjoyed by Shale (Feb 07)
- Shale Drilling Technology to Head Overseas in Next Market Upturn (Oct 27)