ShippingWatch

Subsea 7 lays off 3,000 employees

Offshore shipping company Subsea 7 launches cost cutting measures that include a 3,000 personnel reduction. Up to ten vessels could be removed from the active fleet.

Photo: PR/Subsea 7

Subsea 7 launches a number of cost cutting measures to account for the oil price drop and the effects of the coronavirus crisis.

Before the end of the year, the company expects to have lowered its number of staff by approximately 3,000 out of its 12,000 personnel currently employed globally.

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