FMC Kongsberg Subsea is set to make 700 job reductions in Norway.
The company said the move is being made in a bid to streamline costs as a result of the low oil price.
Chief executive Rune Thoresen said the decision was made at an extraordinary general meeting today.
It comes after the company went through a number of job losses last year.
Around 200 of the jobs are expected to go in its subsidiary subsea services, while the other 500 roles are expected to go elsewhere in the company.
FMC has around 3,200 employees in Norway.
It’s understood staff were informed shortly after the meeting was held.
Recommended for you
