Sector News

Weatherford in consultation over headcount

October 19, 2015
News

Weatherford has launched a consultation with staff in its UK operations for up to 75 positions.

The move comes after the company revealed earlier this year it would be making redundancies across the globe as it looks to streamline costs.

The redundancies will affect staff in its North Sea operations and staff have been informed of the move.

The workforce have been told the “current method of operation needs to change” in a bid to “reduce costs, reduce debt and increase profit margin.”

In July this year Weatherford told staff it planned to increase the number of headcount reductions within the company to 11,000.

The number was up from the previous estimate of 10,000 and is expected to come from support staff within the US.

The move comes from what Weatherford sees as a weakening market in North America.

The company also previously said It planned to closes 30 facilities by the end of the year.

Weatherford were unavailable for comment.

Source: Energy Voice

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