Norwegian energy giant Equinor has begun one of its largest reorganizations in decades. The company is shutting down several departments. Over 7,000 employees will feel the impact.
This represents the biggest structural change at Equinor since its merger with Hydro. The Norwegian continental shelf operations face substantial reorganization. Workers across multiple divisions will see their roles change.
Equinor employs approximately 21,000 people worldwide. The restructuring affects about one-third of its workforce. Most impacted employees work in Norway's offshore energy sector.
The company has not specified which departments will close. It also hasn't revealed potential job losses. Industry analysts expect both offshore and onshore positions to undergo changes.
Norway's oil and gas industry faces pressure to transition toward renewable energy. Equinor must balance traditional petroleum operations with green investments. This restructuring likely reflects that strategic challenge.
How will this affect Norway's dominant energy company? The changes come as European energy markets remain volatile. Equinor must maintain production while adapting to climate pressures.