Odfjell Announces Layoffs, Reduction of NW European officers

Chemical tanker owner Odfjell announced a restructuring plan today which will result in a reduction of up to 85 positions at their office in Bergen, Norway. The company notes 32 are already concluded through attrition and early retirement.

“There will also be organisational changes at our offices abroad,” the company notes, including “Relocation of administrative tasks and reduction of Northwest European officers on our ships.”

The restructuring plan is estimated to improve the net result by in excess of USD $100 million on a yearly basis within 2016.