Statoil plans to reduce staff by 20% by end of 2016

Statoil plans to reduce its staff by 20% by the end of 2016, according to Reuters, citing comments from Statoil CEO Eldar Saetre.

The staff reduction will be part of the company’s overall cost-reduction plan. Reuters noted that Statoil had 22,516 permanent employees and 1,411 consultants at the end of 2014.

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