5,000 posts to go worldwide as local fears mount over Aberdeen oil job cuts at Weatherford

WeatherfordFears were growing last night of hundreds of oil job cuts at Weatherford International in Aberdeen after the company confirmed it is making 5,000 people redundant from its global head count.

Local speculation around the company’s base at Souterhead Road in Scotland’s oil capital said that up to 100 local jobs could be at risk.

There was no reply to the company’s Aberdeen switchboard last night.

A spokeswoman at Weatherford’s head office in Houston, Texas, said: “We will not comment on the details of the reduction-in-force.

“Due to quickly changing market conditions, we are aligning our cost structure to match our view of the new market environment. As market conditions evolve over the next few quarters, we will continue to adjust our cost base. 

Weatherford is one of the largest global oil and gas service providers, with operations in more than 100 countries. Earlier in the day, Bernard Duroc-Danner, Chairman and Chief Executive, announced that it would cutting its workforce in response to the recent dive in crude oil prices in the N. Sea and elsewhere.

He said: “Due to the quickly changing market conditions, we are aligning and reducing our cost as well as organisational structures to match the new environment. As a result, we will have a leaner structure and a tighter organization.

“We have commenced a reduction-in-force exercise targeting 5,000 positions, of which more than 85% are located in the Western Hemisphere.

“The headcount reduction is expected to be complete by the end of the first quarter of 2015, resulting in expected annualised savings of around £200 million.”

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