Report: GE Oil & Gas to cut jobs to reduce costs
GE Oil & Gas is reportedly set to start staff cuts in an attempt to reduce costs.
According to Evening Express, Aberdeen’s daily newspaper, the company has begun the restructuring process which includes job cuts.
Evening Express quotes GE Oil & Gas spokesperson as saying: “GE Oil & Gas has started restructuring projects to reduce the cost structure of the business.
The spokesperson also added that: “This includes proposals to reduce employment, which is a decision we don’t take lightly but one we must undertake for the long-term health of the business.”
The oil company operates worldwide and employs more than 45,000 people.
Offshore Energy Today reached out to GE Oil & Gas seeking confirmation of these reports as well further info on location and number of employees that might be affected. Should there be more info, the article will be updated accordingly.
Elsewhere in the oilfield services sector, Schlumberger has announced massive cuts, saying it will let go off 11,000 workers.
Offshore Energy Today Staff