Norwegian energy giant Equinor is launching its largest organizational overhaul in nearly two decades. The restructuring will affect 7,000 workers across multiple departments.
Equinor's Norway chief Kjetil Hove confirmed the changes in a statement. He emphasized that the reorganization does not involve workforce reductions.
Hove described the scale of changes as comparable to the Statoil and Norsk Hydro merger. He called it one of the biggest transformations in Equinor's Norwegian operations during his tenure.
Last week, Equinor announced separate plans to reduce its workforce by up to 5,000 positions. The current restructuring only applies to onshore employees and will not impact offshore operations.
The company appears to be implementing two separate workforce strategies simultaneously - one restructuring without job cuts and another involving actual reductions. This dual approach creates uncertainty about Equinor's overall employment strategy moving forward.