2000 redundancies at Maersk, curtain falls on Safmarine and Damco
Maersk is laying off no fewer than 2000 employees as a result of the large-scale reorganisation that started at the beginning of September. The end of Damco had been in sight for some time, but...Read more
Shell to cut up to 9000 jobs in sustainability push
Shell will cut 7,000 to 9,000 jobs as part of a large-scale business transformation aimed at making the company sustainable. The oil major wants to grow its chemicals and biofuels production while also looking at...Read more
Oil field services provider Schlumberger cuts 21,000 jobs
Schlumberger is cutting 21,000 jobs in response to the pandemic and related oil crisis. CEO Olivier le Peuch says the second quarter ‘has probably been the most challenging quarter in the past decades.’ The company...Read more
Marine engine manufacturer MAN to cut almost 4000 jobs
MAN Energy Solutions says an extensive cost-cutting and restructuring programme is needed to ensure the future viability of the company. Measures include the elimination of up to 3000 positions in Germany and 950 in other...Read moreShell to write off 20 billion dollars in assets, plans major reorganisation
Royal Dutch Shell is preparing a major reorganisation in response to the new oil crisis, which sees the company write off at least 20 billion dollars in assets in the previous quarter. ‘We will likely...Read more
DFDS axes another 650 jobs due to corona crisis
Ferry company DFDS has announced that it will cut 650 jobs. The cost reduction is part of a larger austerity round, with which the Danish company wants to adapt to the new market conditions. The outbreak...Read more
Van Oord to cut 500 jobs, 120 in the Netherlands
Covid-19 and the slump in oil and gas prices are also taking their toll on Dutch offshore and dredging contractor Van Oord. The company says it needs to restructure to stay healthy, which will cost...Read more
Offshore contractor Allseas to significantly cut crew headcount
Offshore contractor Allseas will reduce its workforce by a few hundred in the course of 2020, which will mostly impact its vessels’ crews. The company says it is forced to do so due to the...Read more
Subsea 7 to lay off quarter of its workforce
The slump in the oil and gas market is taking its toll on Subsea 7. The offshore service provider plans to reduce its workforce of 12,000 by approximately 3000 by the end of the second...Read more
Temporary layoffs and worktime reduction at Wärtsilä
To mitigate the negative impact caused by the pandemic, Wärtsilä is taking steps to minimise the negative impact on its operations. These actions include reduced worktime and temporary layoffs of personnel. The Finnish manufacturer had immediately...Read more
Aker Solutions to temporarily lay off nearly 6650 employees
Aker Solutions might temporarily lay-off as much as 6650 of its 16,000 employees. The company has also initiated an early retirement program and frozen all salaries including that of executive management. ‘The first months of...Read more