20 percent to lose their job before Christmas / News / The Foreigner

20 percent to lose their job before Christmas. Lay-offs turn into sackings. A new report from the Confederation of Norwegian Enterprise (NHO) forecasts that one in five businesses will have to downsize in the next three months. “Up to now, many businesses have mainly used temporary lay-offs, but that might have been optimistic. We fear that many will result in job losses,” NHO’s chief economist Tor Steig tells Bergens Tidende (bt.no).Pincer movement

jobs, cut, sack, lay-off, temporary, norwegians, industry, oil, shipping, building



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20 percent to lose their job before Christmas

Published on Thursday, 10th September, 2009 at 12:40 under the news category, by Michael Sandelson   .
Last Updated on 10th September 2009 at 14:43.

Lay-offs turn into sackings.

Concept of job cuts
Concept of job cuts
Photo: Feng Yu/Shutterstock Images


A new report from the Confederation of Norwegian Enterprise (NHO) forecasts that one in five businesses will have to downsize in the next three months.

“Up to now, many businesses have mainly used temporary lay-offs, but that might have been optimistic. We fear that many will result in job losses,” NHO’s chief economist Tor Steig tells Bergens Tidende (bt.no).

Pincer movement

Two factors are expected to affect the economic outlook, according to the report. The demand for both manufacturing and exports will fall, at the same time as increased activity in both the domestic market and public sector.

The report predicts unstable times for the building industry, shipping, and the oil industry, amongst others.

Up to 120,000 Norwegians could be without a job by the second half of 2010.



Published on Thursday, 10th September, 2009 at 12:40 under the news category, by Michael Sandelson   .
Last updated on 10th September 2009 at 14:43.

This post has the following tags: jobs, cut, sack, lay-off, temporary, norwegians, industry, oil, shipping, building.





  
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