Offshore staff

LUXEMBOURG – Subsea 7 plans to reduce its global personnel by around 3,000 to 12,000 over the next year.

Two-thirds of the cuts will likely apply to the non-permanent workforce.

Over the same period the company plans to shed up to 10 vessels from its 32-strong active fleet, through the non-renewal of chartered tonnage and the stacking of owned assets.

These measures should deliver annual cost savings of $400 million from 2Q 2021.

05/28/2020