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2015-10-27 18:55:00

MAERSK OIL CUTS 12%

MAERSK OIL CUTS 12%

Maersk Oil has announced its intention to implement workforce reductions amounting to 10-12% of roles across its business.

The move, part of the company's drive to reduce operating costs by 20% by the end of 2016, follows an extensive internal review of business activities and continued low oil prices.

The impacts will see a reduction in the number of employee and contractor roles in a range of Maersk Oil business locations, as well as the company's headquarters. It brings the total number of positions taken out of the organisation during 2015 to approximately 1,250.

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Tags: MAERSK, OIL, PRICES

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