Layoffs in Norway

Airthings, a Norwegian company specializing in indoor air quality monitoring devices, conducted a layoff affecting approximately 30% of its workforce in late 2022. This reduction impacted around 45 employees as part of a strategic restructuring plan aimed at extending the company's financial runway and achieving profitability. The decision was driven by challenging market conditions, including a slowdown in the smart home and consumer electronics sectors. Airthings, which had scaled significantly during the pandemic, adjusted its operations to navigate the post-pandemic economic environment and focus on sustainable growth.

Oda, a SoftBank-backed online grocery delivery startup based in Norway, has laid off 150 employees as it refocuses its operations solely on Norway and Sweden. This strategic retreat, announced in June 2024, comes after the company merged with Swedish retailer Mathem last year and follows its exit from markets like Finland and Germany. Facing the industry-wide challenge of achieving profitability in online grocery—a sector with complex logistics and tight margins—Oda aims to become profitable in its two remaining markets by 2025. The layoffs are part of a broader reset under new CEO Chris Poad, who joined in April, as the company scales back its once-ambitious European expansion plans that were fueled by hundreds of millions in funding and a pandemic-era boom.

In February 2024, Norwegian solar energy company Otovo announced a significant restructuring and cost-cutting program executed in Q4 2023. As part of this effort to improve efficiency and reduce annual operating expenses by NOK 80-100 million, the company laid off 65 employees, representing approximately 15% of its workforce. The layoffs primarily targeted head office functions and middle management, streamlining the organization with an increased operational focus on its Madrid hub. This move was made amid market headwinds, despite the company reporting resilient annual revenues surpassing NOK 1 billion for the first time in 2023. The restructuring incurred NOK 10 million in one-off costs during the quarter.

Norwegian electric vehicle charging company Easee is undergoing a significant crisis management restructuring, which includes extensive layoffs. While the exact number of employees affected is not specified in the provided text, the company is implementing mass dismissals as part of this plan. Concurrently, Easee is securing 60 million Norwegian kroner in new capital. Founder and top executive Jonas Helmikstøl is stepping down from his leadership role as of Monday, August 14, 2023, though he will remain with the company in another capacity. These measures highlight the severe challenges facing the firm in the competitive EV charging industry.

Tibber, a European energy technology company, announced layoffs of up to 50 employees in June 2023. This represents about 14% of its then 350-person workforce across Norway, Sweden, Finland, Germany, and the Netherlands. The cuts, offered as voluntary severance packages, were a response to a significant loss of 509 million Norwegian kroner the previous year. This financial strain was partly due to volatile electricity prices, which forced the company to invoice customers before delivery, leading to customer dissatisfaction and attrition. The layoffs aim to improve efficiency and focus resources on core areas, with leadership expressing optimism for a return to operational profitability in the latter half of 2023.

Signicat, a European digital identity company, has announced a reorganization that will result in layoffs affecting a small number of employees. The move aims to streamline operations, integrate previous acquisitions more quickly, and build scale across Europe to strengthen its market leadership and focus on profitable growth. While the exact number of layoffs and percentage of the workforce affected were not disclosed, the company stated it will provide support like career coaching to impacted colleagues. This restructuring, led by CEO Asger Hattel, is part of an effort to create a future-proof organizational structure without disrupting customer services. Signicat, headquartered in Norway and backed by Nordic Capital, operates in the digital identity and fintech industry.

Norwegian online grocery retailer Oda is laying off 70 employees, representing 18% of its approximately 400-person "group services" division, which handles expansion and long-term projects. The cuts, announced in November 2022, are part of a strategic shift toward faster profitability in response to a changed capital market environment. Founder Karl Munthe-Kaas cited the war in Ukraine, rising interest rates, and a downturn in the tech and e-commerce sectors as key reasons. The company, which operates in Norway and Finland, is scaling back its growth pace, including a slower rollout in Germany, while securing new funding at a lower valuation.

Whereby, a video conferencing platform, recently conducted layoffs as part of a strategic shift toward profitability and greater financial resilience amid challenging market conditions. The company did not disclose the exact number of employees affected, but the CEO publicly shared a list of impacted team members who opted to have their details shared. Whereby serves millions of users and maintains products like Whereby Meetings and Embedded. The layoffs, announced last week, reflect broader adjustments in the tech industry as companies prioritize sustainable operations.