ABB in Norway said it plans to reduce its headcount by around 120 positions in Norway.
The company said the move is being taken as a result of lower activity in the marketplace.
It’s understood staff were informed of the move earlier this month.
Chief executive Steffen Waal said the firm “regrets” the decision and having to inform staff of such a “gloomy message”.
He said downsizing would be stressful for the whole company, especially those affected but was unfortunately “necessary”.
The positions affected will include the company’s operations in oil and gas and chemicals.
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