Subsea 7將裁員1200人

LUXEMBOURG — Subsea 7 said Wednesday that it will start?a second phase of global resizing and cost reduction measures. The move is in response to?continued difficult business and economic conditions in the oil and gas market.

The company plans to resize its global workforce to approximately 8,000 by early 2017, down from the current level of 9,200. Consultation with employees and employee representatives will take place on a local basis and consultation processes have begun in Norway and the UK.

Subsea 7’s fleet of active vessels will be managed commensurate with the projected workload, while retaining capability and maintaining a global presence. Up to five vessels are scheduled to leave the current active fleet by early 2017, based on stacking owned vessels and returning chartered vessels when existing contracts expire.

These cost reduction and resizing measures, together with those already initiated since the start of the year, are expected to deliver approximately $350 million in annualized cost savings. The charge related to the resizing will be recognized in 2016 and is expected to be less than $100 million.

With effect from July 1, the company will also change its organizational structure.