Companies announce further job cuts

The downturn looks set to claim more jobs as companies continue to battle the prolonged weak market.

Sep 21st, 2016

Offshore staff

Thedownturn looks set to claim more oil and gas jobs as companies continue to battle the prolonged weak market.

The Wall Street Journal, among others, has reported thatPetronas will cut several hundred more jobs from its publicly listed operations. These reductions follow the company’s March announcement that it would be shedding 1,000 positions among efforts to decrease spending by more than $11 billion over the next four years.

The news provider also noted that theMalaysian national said yesterday, Sept. 20, that it would continue studying its strategies and staffing levels as they adjust to changes in demand.

“This transformation exercise cuts across the entire Petronas group, including at subsidiary levels. More information will be disclosed as and when appropriate,” the Wall Street Journal quoted the company as communicating via statement.

According to reports from BBC and other outlets,Technip informed its Aberdeen employees that to expect a third round of job losses, which could result in up to 130 cuts. The reductions would be made from the company's local Subsea group.  

09/21/2016

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