Oslo, Norway — A Norwegian company has announced plans to reduce its workforce by up to 200 employees as global economic uncertainty and weakening demand impact operations. The decision comes after months of declining orders and rising operational costs, according to local business daily Dagens Næringsliv.
The company, which has not been named publicly, operates in a sector heavily exposed to international markets. Analysts link the downturn to broader trade tensions and reduced consumer spending across key export regions. Earlier this month, the firm reported a 12% drop in quarterly revenue compared to the same period last year.
Labor unions confirmed they are in negotiations with management over the layoffs. A union representative stated that affected workers would receive severance packages and extended benefits. The firm’s CEO declined to comment beyond a brief statement acknowledging the difficult decision.
Industry watchers warn this could signal wider challenges for Norway’s export-driven economy. The country’s manufacturing sector, particularly in maritime and energy-related industries, has faced pressure from falling commodity prices and slower growth in Europe and Asia.
The layoffs are expected to begin within six weeks, pending final approval from labor authorities.
Source: e24.no