Houston-based oil equipment maker National Oilwell Varco’s Norwegian arm said Wednesday it is shedding 1,500 jobs, or about a third of its staff here, as sales drop on lower oil prices and industrywide spending cuts, a day after Norway’s dominant oil company Statoil ASA announced a similar-sized job cut.
National Oilwell Varco Norway said it would shed 900 permanent jobs and 600 contract workers out of a total Norwegian workforce of about 5,000. The drilling equipment maker blamed the downsizing on reduced spending by oil companies and lower sales of new equipment.
Chosen excerpts by Job Market Monitor. Read the whole story at National Oilwell Varco Norway to Cut 1,500 Jobs – WSJ.
Related Posts
Statoil Cutting up to 1,500 Permanent Jobs – WSJ
Norway’s Statoil launched the next phase of its efficiency program on Tuesday, announcing it would cut between 1,100 and 1,500 permanent employees by the end of 2016 as it looks to increase efficiency and strengthen competitiveness. The oil and gas major said a further 525 consultant positions will also be cut, while additional changes … Continue reading
Canada’s Oil and Gas Industry – Could lose as many as 185,000 direct and indirect jobs
In 2014, the oil and gas industry spent more than $125 billion on exploration, development and production activities in Canada, supporting more than 720,000 direct and indirect jobs. With an anticipated $31 billion reduction in capital and operational expenditures in 2015, the Canadian economy could lose as many as 185,000 direct and indirect jobs related … Continue reading
Oil and Gas Industry – 100,000 layoffs over oil price slump
Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of around 20,000, 10,500, and 9,000 employees respectively, while E&Ps BP and Chevron each announced layoffs approaching 10,000 of their employees, according to … Continue reading
Oil Industry – Mass layoffs complicate long-term plans
More than 100,000 layoffs have been announced across the industry worldwide since prices began to slide last summer, according to a tally kept by Bloomberg. In recent weeks other major service companies have announced job reductions. Halliburton announced it will cut 6,400 jobs (8 percent of its global workforce) while Schlumberger will eliminate 9,000 positions … Continue reading
Oil Prices – Dampening the recruitment activity but hiring has not stopped
The recent decline in oil prices has led to a “softening” of recruitment in the region’s oil and gas sector, but there are still employment opportunities available in the UAE for those seeking new positions, experts told Gulf News. Overall, demand for new employees is still on the rise in the UAE, with nine out … Continue reading
Crude oil’s collapse will cost 9,000 jobs at Schlumberger
Oilfield services giant Schlumberger plans to cut 9,000 jobs as the global collapse in crude oil prices crimps production in 2015 and perhaps even longer. The cuts — nearly 8% of Schlumberger’s 120,000 workers, were announced Thursday “to better align with anticipated activity levels for 2015,” the company said. Chosen excerpts by Job Market Monitor. Read … Continue reading
Canada / Oil and natural gas industry supports budget training measures
Canada’s oil and natural gas industry supports federal budget measures announced yesterday to foster growth and development of Canada’s future skilled trades workforce, the Canadian Association of Petroleum Producers said today. “Our industry is the largest employer of skilled trades workers in Canada so we strongly support government measures to promote careers in this sector,” … Continue reading
Job Market Monitor 
Discussion
Trackbacks/Pingbacks
Pingback: Offshore drilling woes will continue to hurt oil services giants, analyst says - Binary Option Evolution - June 28, 2015
Pingback: Centrica (owner of British Gas) – To cut 6,000 jobs | Job Market Monitor - July 30, 2015
Pingback: Royal Dutch Shell – To cut 6,500 jobs | Job Market Monitor - July 30, 2015