EMCC European Monitoring Centre on Change

Aker Solutions

Company/Organisation:
Aker Solutions

Geographic Location

Country: Norway
Region: Norge

Company

Sector: Mining / quarrying
Mining and quarrying
09.90 - Support activities for other mining and quarrying
Number Employed: 5500
Group: Aker Soultions

Employment Effects

Announcement Date: 05-11-2020
Planned Job Reductions min: 100
Planned Job Reductions max: 350
Type of Restructuring: Merger/Acquisition
Employment Effect Start: 04-11-2020
Foreseen End Date: 31-12-2020

Additional Information

As a consequence of the merger of the two oilfield services companies Aker Solutions and Kværner, 350 jobs will be cut in the administration of the 'new' Aker Solutions. The majority of these cuts will be in Norway. The company will try to provide alternative work internally in the organisation for those affected, and states that it is too early to provide a number of direct dismissals.

The merger was first announced in July, along with a plan for continued cost cuts and staff reductions in both companies, with a target of 30% cost recuction (approximately €150 million). Cost cuts were started in both companies as a consequence of the drop in oil prices and following the COVID-19 pandemic.    

Staff reductions in other areas of the company have already been made and more are expected. The merger plan implies a total reduction in staff numbers from 18,800 in 2019 to around 15,000. 

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