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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: MarketLine (a Datamonitor Company)
Provider: Wright Reports

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Hurtigruten ASA Announces Reorganization

Monday, 28 Jan 2013 02:59am EST 

Hurtigruten ASA announced that it reorganizing and streamlining its corporate and Sales Nordic operations. Annual savings of over NOK 60 million is expected, with full effect from 2014. Several changes in the overall structure and working methods will take place: general staff reductions within administrative functions; centralizing activities to a new corporate center in Tromso and phasing out of the current operations in Narvik, transfer of duties and personnel to the corporate center; organization designed to give much more focus to the Company's commercial operation increased focus and commitment to hotel and restaurant operations by competence development and improved service, establishment of a dedicated manning company for crew. Proposed change of the Company's head office address is submitted for decision by the Annual General Meeting on April 17, 2013. Hurtigruten's new organization is planned for implementation on March 31, 2013, and results in a general downsizing of between 25% and 30%. The Company will ensure continuity with respect to safe operations and emergency preparedness, and business-critical functions when implementing the new structure. The Company will continue the efficiency efforts initiated outside the Nordic countries, including the Svalbard operations. Hurtigruten is also in the process of selling non-strategic assets. Financial effects of these processes will come in addition. 

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19 Dec 2014