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Statoil to slash 1,500 jobs to trim losses

Statoil, grappling with plunging global oil prices, plans to cut between 1,100 and 1,500 jobs, or seven percent of its workforce, by the end of 2016, the Norwegian oil giant said Tuesday.

Statoil to slash 1,500 jobs to trim losses
Statoil's Oseberg A facility. Photo: Harald Pettersen/Statoil
The company, which is 67 percent state-owned, carried out an 8.0 percent cut in staff levels last year to 22,500.
   
The company will also dismiss 525 external consultants, it said in a statement.
   
“We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation,” chief operating officer Anders Opedal said in the statement.
   
The cuts are part of a programme to generate $1.7 billion in annual savings from 2016 that Statoil announced last year when oil prices were still above $100 per barrel.
   
Oil prices have since fallen to under $50 per barrel before recovering to around $60, pushing energy companies to accelerate cost-cutting measures and suspend or scale back investment.
   
In February, when it announced annual profits had been slashed in half due to tumbling oil prices and heavy write-downs, Statoil also announced a 10 percent cut in its $20 billion investment budget for this year.
   
Statoil, which went into the red in the second half of the year, also warned in February of further staff reductions.
For members

WORKING IN NORWAY

First steps: What to know when searching for a job in Norway 

Whether you have recently arrived in Norway or have worked here before but are now unemployed or looking for a new opportunity, this is how you should start your job search. 

First steps: What to know when searching for a job in Norway 

Norway draws thousands of foreigners to the country for work each year. High wages and decent job security mean that many who arrive in the country for work end up staying. 

Whether you’ve recently arrived in Norway, lost your job, or are looking for your next challenge, there are several crucial steps you need to take to aid your search. 

Register as a job seeker or unemployed, and register with the police 

Those who have already worked and paid taxes and national insurance in Norway may be able to register as a job seeker with the Norwegian Labour and Welfare Administration (NAV) and receive financial support while they search. 

NAV is also one of the go-to places for job listings in Norway, along with Finn-no, so it should be considered an excellent place to start your search. 

Meanwhile, others may need to register with the police that they have lost their job under the conditions of their residence permit. 

READ ALSO: How work permit holders can stay in Norway if they lose their job

Therefore, if you have already spent some time in Norway, you need to check whether you are required to register as a job seeker. 

Be aware that some forms of financial assistance from NAV can delay your eligibility for some citizenship and residence rights. This mainly concerns økonomisk sosialhjelp, but you should still check the rules. 

If you are required to register as a job seeker with the police, be sure to do so as soon as possible. 

Take time to refresh your CV and do some research 

Before getting fully stuck into your job search, it may be worth seeing if there are any ways you can tweak your CV to make it any more appealing to Norwegian recruiters. 

When it comes to writing a CV, there are plenty of templates online adapted to what’s typical in Norway. 

Additionally, many recommend replacing the word “I” with “we” where appropriate to show you are a good team player. 

If your Norwegian skills are good enough, try and write up the CV in Norwegian. If not, stick to English. If you submit a CV that somebody else has translated for you, the employer may feel that you are trying to deceive them by pretending that your Norwegian skills are better than they really are.

Some foreigners in Norway have reported changing their names to a more “Norwegian one” on their CVs. While this might sound like a smart hack on the surface, it could lead to awkward situations later in the job-hunting process. 

READ ALSO: The dos and don’ts of writing a killer CV to impress Norwegian recruiters 

Research can also provide a massive boost to your job hunting. If you only have the language skills to work in English, it’s best to put together a shortlist of all the companies in your industry with English as the working language. 

Additionally, Statistics Norway, the National Data Agency for Norway, keeps quite detailed statistics on the average and median wages in certain professions and sectors. This should give you an overview of how much you should expect to earn and will prove advantageous further down the line. 

Looking for jobs 

There are several places to look for jobs in Norway. As we’ve mentioned, NAV has most of the job listings in the country offered on its site. Users can also filter jobs by whether they require English or Norwegian. 

Finn.no is most people’s place to look for jobs. On the site, you can fill out a profile and be sent a weekly roundup of jobs that match your profile. 

Besides these sites, LinkedIn is also popular. Many international companies with English as the working language post their opportunities on Linkedin; therefore, it’s worth making a shortlist of companies to follow on the site as you’ll be notified whenever a job is posted. 

The Local Norway also has a page featuring jobs and opportunities across Norway

It’s also common to find jobs via one’s personal network. If you have a network established in Norway already, you should heavily consider asking around. 

There are also several recruiters in Norway who can help match you up with a job suited to your skills and experience. If you need a new job and an income stream as soon as possible, recruiters offer plenty of opportunities. 

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