There are fears of more oil-industry job losses in Grampian after Technip – which employs about 1,000 people in the north east – announced plans to cut 6,000 jobs worldwide
With its own clients cutting projects due to low oil and gas prices, the French oil industry engineering and construction group is looking to cut its costs by more than £500 million by the end of 2017.
“The slowdown in the oil and gas industry is prolonged and harsh,” Chief Executive Thierry Pilenko said in a statement.
The company is to reduce its activities, close offices in unprofitable countries and sell non-essential assets. Its fleet of vessels would also be trimmed back by early next year.
Technip did not provide a breakdown of where its job cuts will occur.
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