Havyard counters offshore slump with 4-day working week

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”.




Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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