Strictly talking about cost, Norway is an expensive country. Compared to USA, Everything costs a lot more i.e rent, pay, overall operating cost etc. How is NOV still surviving there?
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NOV Norway has for a long time betrayed the core business of NOV by outsourcing to competitors rather than buy internally. They never thought about the bottom line for NOV, just for NOV Norway. Buying inferior products from competitors when our internal equipment is far better. I hope that bites them in the a--.
They layed off people in Norway but not 70%. Infact NOV layed off people all around the globe and Norway is no exception. NOV norway in general has a very high operating cost..
subcontract from India...
Maybe they are better at their jobs
By laying off 70 % staff