NOV to reduce Norwegian workforce by 1,500 jobs

National Oilwell Varco Inc. (NYSE: NOV), an oilfield equipment maker, plans to cut its Norwegian workforce by 1,500 by the end of this year due to the effects of current low oil prices, according to various media outlets.

With the company experiencing reductions in both investments and new equipment sales, NOV plans to eliminate approximately 900 permanent jobs and 600 contractors.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...