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.

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