Offshore and engineering firm Aker Solutions has told its employees in Stavanger that as many as 300 more jobs may be cut because of ongoing cutbacks in the oil and offshore industries. The cuts come on top of 500 job losses during the past year.
Most of the cuts are being made in the so-called MMO division, which encompasses maintenance, modification and operation of offshore equipment. Another 70 employees in central Norway may be laid off as well.
The cuts will be made through a combination of attrition, reassignments and layoffs. “Activity in the MMO market on the Norwegian Continental Shelf has fallen markedly since the summer of 2014,” Per Harald Kongelf, head of Aker Solutions in Norway, stated in a press release. He expects challenges will continue through the year and into 2016.
Aker Solutions has, however, already benefited from planned development of the huge Johan Sverdrup oil field just west of Stavanger. The company won a five-year contract worth NOK 4.5 billion from Statoil tied to the Johan Sverdrup project.