Latest business news and updates from Norway in English.
Eighty-five workers lost their jobs when the Norwegian Gannet slaughter vessel ceased operations. The closure results from insufficient slaughter volumes to maintain sustainable economics. Half the affected employees are Norwegian, while the other half are foreign workers.
Norway's main employer organization NHO offers voluntary severance packages to 300 central staff members. The move aims to reduce costs by 10% amid rising expenses. Trade unions express concern about potential loss of valuable expertise.
Norway's leading business organization NHO has offered voluntary severance packages to all 300 employees amid cost-cutting efforts. The move aims to reduce operational expenses by approximately 10% while maintaining recent membership growth. The outcome depends on how many staff members accept the voluntary departure offers.
Oslo housing prices fell 1.3% in October, a larger-than-average seasonal decline. The drop comes despite two interest rate cuts this year, with experts pointing to high supply and moderated expectations. Prices have still gained 5% year-to-date despite recent decreases.
Norway's main employers' federation NHO offers voluntary severance to all 250 central staff amid cost pressures. The organization seeks 10% cost reduction despite membership growth. NHO represents over 33,000 Norwegian businesses.
Oslo housing prices dropped 1.3% in October, exceeding the typical seasonal decline. Despite the monthly decrease, OBOS home values have risen 5% overall this year. The average price per square meter remains above 83,600 Norwegian kroner.
Norway's new car sales dropped in October with electric vehicles maintaining 97.4% market share. Volkswagen led sales followed by Volvo and BMW, while Tesla ranked fourth. The decline continues despite strong EV incentives.
Norway's main business organization NHO is offering voluntary severance packages to approximately 300 employees. The move aims to reduce costs by about ten percent amid rising operational expenses. NHO hopes to achieve necessary savings through voluntary staff reductions rather than forced layoffs.
An investigation reveals Norwegian salmon labeled premium arrives at European factories with wounds and injuries, violating export laws. Industry officials acknowledge the problem damages Norway's seafood reputation. Workers say they cannot sell the damaged fish to customers.
Norway's small hydropower industry has frozen dozens of projects following a government tax proposal. Companies stopped investments within hours, warning of layoffs throughout the supply chain. The proposal would extend resource taxes to smaller power plants between 1.5 and 10 megawatts.
Norwegian electric car buyers face double risk as year-end VAT changes create delivery uncertainties. Consumers could face cancellation fees up to 30,000 kroner if vehicles arrive after New Year, while dealers scramble to meet demand. The government's tax proposal would make average cars 50,000 kroner more expensive starting January.
Norway's small hydropower industry halts dozens of projects following proposed tax changes. Companies warn the expanded resource tax threatens renewable energy development and could reduce plant values by 40-45%. The immediate suspensions affect both planned and ongoing projects across the country.
Equinor's CEO admits workers don't feel safe reporting safety concerns, calling conditions unacceptable. The energy giant faces scrutiny over illegal contracts and worker retaliation fears. Company promises cultural change while workers describe ongoing safety concerns.
Norway's unemployment rate edged up to 2 percent in October, marking a slight increase from previous months. The seasonally adjusted rate reached 2.2 percent, though officials describe labor market conditions as still positive. The increase appears driven by minor fluctuations rather than economic concerns.
Norway's unemployment rate reached 2.0 percent in October, with 61,300 people registered as jobless. Officials describe the labor market situation as still strong despite the increase from previous months.
Norwegian defense conglomerate Kongsberg Gruppen saw its stock plunge 18.25% after disappointing Q3 results and plans to split the company. The drop marks the second-worst trading day in the company's history, wiping out billions in market value.
Kongsberg Gruppen suffered its second-worst trading day ever with an 18% stock plunge. The drop came alongside weak quarterly results and a proposal to split the company. The Oslo Stock Exchange's main index fell nearly 2% in the same session.
Norwegian authorities are conducting nationwide raids in a major tax fraud investigation targeting 30 million kroner in suspected evasion. The case involves alleged abuse of the country's research and development tax incentive program. Multiple businesses are under investigation for providing false information to tax authorities.
Norske Skog faces potential 120 million kroner annual penalties despite cutting CO₂ emissions by 95%. The paper giant warns this threatens jobs and operations at its Norwegian mills. The case highlights contradictions in Europe's emission trading system.
OBOS has appointed Marianne Gjertsen Ebbesen as its new chief executive, effective December 1. She replaces Daniel Kjørberg Siraj, who led Norway's largest housing cooperative for ten years. Ebbesen brings extensive experience from both OBOS and major Nordic financial institutions.
Norway's financial watchdog reports homeowners are borrowing more against property values after regulators eased equity requirements. The change helps more buyers enter the market but increases exposure to potential price drops.
OBOS, Norway's major housing cooperative, names Marianne Gjertsen Ebbesen as new CEO effective December 1. She replaces Daniel Kjørberg Siraj after his decade-long leadership. The change comes during a cooling Norwegian housing market.
Norwegian energy giant Equinor plans to reduce its workforce by up to 5000 positions by 2030 through natural attrition and strategic restructuring. The company anticipates 3-5% annual reductions among its 25,000 employees as it reorganizes operations and rebrands its renewable division. This gradual downsizing reflects broader industry shifts toward renewable energy while maintaining operational efficiency.
Norway's state-owned energy company Equinor plans to cut up to 5,000 jobs by 2030 through natural attrition. The company will not replace retiring employees and has maintained a hiring freeze since May. This represents a significant workforce reduction for Norway's largest energy producer.