Aker Solutions said it will make temporary reduction in salaries for Norwegian MMO (maintenance, modifications and operations) staff.
The company said from March, senior management will have their pay lowered by 10% while the remainder of the staff will have their pay reduced by 5%.
The adjustments will be reassessed after a 12month period.
Per Harald Kongelf said: “We are leaving no stone unturned in our efforts to secure a sustainable future for our business.
“Reducing salary costs is one of multiple measures needed to safeguard our competitiveness and reinforce our ability to win more work in a market with unprecedented challenges.”
Aker previously announced last month it planned to reduce its headcount by as many as 900 positions unless further work is secured offshore Norway.
Aker said a more streamlined business will support leaner processes and bolster overall operations.
It is also expected to build on the company’s core strengths in the MMO area, particularly with more complex modifications projects.