LBO cuts 50

Norway’s Linjebygg Offshore AS (LBO) is one of many oilfield services suppliers forced to lay off workers this year as oil companies reduce spending.

 

The Molde-based firm today announced it will lay off 50 workers as a result of reduced demand in the oil and gas industry.

It said that all employees were informed of the news on Monday, November 3, 2014, adding that this is the first time the LBO has found itself in such situation.

Unless there is an influx of substantial orders within a very short time, LBO said, the layoffs will be executed by December 1 and will take effect in January, 2015.

LBO provides scaffolding, rigging operations, insulation, surface treatment and maintenance and non-destructive testing (NDT) to the Norwegian and international oil and gas industry.

Doors open for return

LBO said that while the company is growing internationally, the growth doesn’t fully compensate for the decline of demand in Norway, because the international projects are less labor intensive.

The company ended its announcement on an optimistic note saying: “We have undiminished faith in a good future for this industry in Norway and internationally. We therefore hope that most of those who now must leave us find the opportunity to come back later.”

Elsewhere in Norway, Haugesund-based Aibel last week said it would reduce its workforce by an additional 300 employees. The reductions are spread over all Norwegian locations, with emphasis on Stavanger, Oslo, Haugesund and Stjørdal.

 

Offshore Energy Today Staff

 

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply