OSLO (Reuters) – Norwegian engineering firm Aibel will cut another 500 jobs as demand from oil firms continues to fall, the company said on Monday.
“The market situation is the direct cause,” said a company spokeswoman.
Before the latest round of cuts, Aibel had 4,300 employees. At its peak, it had about 6,000 employees. Aibel is owned by Norway’s Ferd and Sweden’s Ratos (RATOb.ST) and Sjatta AP-fonden.
(Reporting by Terje Solsvik, editing by Gwladys Fouche)
