NOV to Axe More in Norway


National Oilwell Varco has reportedly set in motion another round of layoffs in Norway after the oil market dive forced the company to let go about half of its Norwegian division staff last year.

NOV was established in Norway in 2000, and at the beginning of 2015 the company had 4 800 employees. This number was halved after two rounds of job cuts of 1 500 and later 900 positions.

According to reports in Norwegian media, the company has informed the staff, stating the reduced investment and reduced sales of equipment as the main reason for its decision.

It is still unknown how many positions will be affected by the next round of downsizing, but the decision could be made within a few weeks, following a consultation period.









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