The largest provider of subsea equipment to the industry, FMC Technologies, has notified the employees in Norway of its decision to cut up to 700 jobs.Workforce adjustment comes as a result of activity decline in the oil & gas industry and the company’s efforts to position its business in response to market conditions. Bibby Offshore has secured a contract with a North Sea operator, to deliver decommissioning operations in the Northern North Sea East Shetland Basin.The company will utilize one of its construction support vessels for the project, due to start in Q2 of 2016 and be completed by the end of 2016. FMC Technologies is taking legal action against its four former Norwegian employees and their company Optime Subsea Services, established in alliance with subsea installation player DeepOcean last year.Reportedly FMC claims that Optime’s founders have used FMC knowhow and technology for inventions that they have patents pending. Oil services company, Oceaneering, is reportedly laying off 150 staff from its Norway division.According to Norwegian Aftenbladet.no the company informed the employees about the downsizing earlier this week, and that specifically ROV division will be most affected by this decision. Subsea World News has put together a recap of the most interesting articles from the previous week (April 04 – April 10). Schlumberger has closed its merger with Cameron.As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share.Schlumberger has issued approximately 138 million shares pursuant to the merger.