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Dutch offshore giant axes 1,200 employees

Cost reductions in the offshore industry now force Dutch SBM Offshore to follow in the wake of other companies by trimming its business. The company is in the process of axing 1,200 employees.

In November CEO Bruno Chabas of Dutch SBM Offshore noted the slowdown in the oil and gas industry. Now he is reacting to this slowdown.

According to a statement, SBM Offshore is looking to optimize its cost base in light of the market conditions, and this will impact the company's employees, some of whom have already felt the consequences.

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