Norwegian oil and gas firm Statoil plans to have 20 percent fewer employees by end-2016 compared to the beginning of 2015, its chief executive said on Monday.
"Suppliers have to take their responsibility to cut costs. We are also taking our part in the restructuring. We have to simplify our work and make it smarter," Statoil's CEO Eldar Saetre told reporters on the sidelines of a conference.
"At the end of 2016 we expect 20 percent fewer employees than at the beginning of 2015," he added.
Statoil had 22,516 permanent employees and 1,411 consultants at the end of 2014.
Reporting by Ole Petter Skonnord