Equinor management is working on two major strategic processes that could reshape the company. The Norwegian energy giant may employ over 5000 fewer workers by 2030 through natural attrition and portfolio adjustments.
CEO Anders Opedal outlined the company's direction in a recent statement. He confirmed they're evaluating their power business structure and operational efficiency on the Norwegian continental shelf.
The renewable energy division will rebrand as 'Power' starting in November. Simultaneously, Equinor is examining how it operates, organizes, and manages work processes across the organization.
Opedal anticipates annual workforce reductions of 3-5% among the company's approximately 25,000 employees. Many senior workers will retire in coming years, and Equinor has already begun recruiting replacements for critical roles.
The company implemented what amounts to a hiring freeze since May, according to communications director Sissel Rinde. This approach means new hires won't replace all departing staff.
Equinor's planned reductions reflect broader energy industry trends as companies balance traditional operations with renewable transitions. The gradual downsizing through natural attrition represents a strategic choice to reshape the workforce without mass layoffs.
What does this mean for Norway's energy sector? Equinor's workforce strategy could influence how other Nordic energy companies manage their own transitions toward renewable operations.