Oslo: More than 10,000 workers have lost there jobs in the Norwegian oil industry since the oil price began to slide last year, and many companies have placed investments and projects on hold or cancelled them completely. In an effort to withstand the crisis, Norwegian yard and ship technology supplier Havyard has agreed to a four-day workweek in May and June, corresponding to a de facto 15% pay cut.
“We’ve also reduced our workforce by laying off numerous employees in all four business units,” Havyard CEO Geir Johan Bakke told Norwegian newspaper Dagens Næringsliv about the restructuring of work at the company. He described Havyard’s current situation as “highly strenuous”.
