Tough market forces SBM Offshore to further layoffs

Dutch SBM Offshore declined on revenue as well as order intake in the first quarter. In line with expectations in a difficult market, says the company, which also announces additional layoffs.

by DANIEL LOGAN

SBM Offshore achieved a revenue of USD 601 million in the first three months of the year, compared to USD 782 million in the same period last year, corresponding to a setback of 23 percent.

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