Equinor's leadership is working on two major strategic processes. The company could employ over 5,000 fewer workers by 2030, according to CEO Anders Opedal.
Opedal envisions annual workforce reductions between 3 and 5 percent of the company's approximately 25,000 employees through 2030. This means more than 5,000 people could lose their jobs.
He explained the company's approach in a recent statement. "We've observed that many experienced senior workers will retire in coming years," Opedal said. "We've begun recruiting to replace this expertise, which means no new hires will replace retiring staff."
Equinor is Norway's state-owned energy giant and one of Europe's largest oil and gas producers. The planned workforce reduction represents a substantial shift for Norway's dominant energy company.
This strategic move comes as energy companies worldwide face pressure to transition toward renewable energy sources while maintaining profitability in traditional oil and gas operations.
What does this mean for Norway's energy sector?
Equinor's workforce reduction signals a broader industry trend toward leaner operations amid energy transition pressures. The company appears to be using natural attrition rather than layoffs to achieve its staffing goals.