FMC Technologies cuts 2000

  • Business & Finance

FMC Technologies, a Houston-based supplier of production systems to the international oil and gas industry, is the latest company in the sector to announce job cuts.

The company’s CEO has been quoted as saying that the company will reduce its workforce by 2000 people, looking to slash costs.

In its quarterly report yesterday, FMC Technologies reported fourth quarter 2014 revenue of $2.2 billion, up 5 percent from the prior-year quarter.

In a message to all FMC Technologies employees, CEO, President, and Chairman John Gremp stated that headcount reductions will affect operations most significantly in North America where rapid declines are occurring in this short cycle. He emphasized that staffing reductions will be just one facet of the company’s plans to address the downturn in activity and commitment to emerge from the downturn stronger.

Despite the rise in revenue, the company was cautious about 2015 outlook. It said that because of the uncertainty in the North American land market, the company would not provide full year guidance.

Elsewhere in the oilfield services sector, Halliburton also announced today its plans to lay off up to 6400 workers due to a dramatic fall in oil prices.

Offshore Energy Today Staff

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