Weir Group Cuts 125 Jobs

The Weir Group plc will reduce its workforce by eliminating 125 jobs in response to falling oil and gas activity levels, the company confirmed in an email to Rigzone.

The job cuts will be mainly in North America. The Glasgow-based engineering company has global operations in more than 70 countries and employs about 15,000 people with a focus on oil and gas, minerals and power. About one-third of the company’s annual revenue comes from emerging markets in Asia Pacific, Africa and South America.  

According to the company’s Interim Management Statement, oil and gas orders were down 23 percent in the first quarter. The U.S. rig count declines exceeded Weir Group’s previous planned assumptions and with limited visibility on market stabilization, the company is planning for “substantial reduction in divisional revenues and a lower operating margin expected" in 2015.

Oil companies have been grappling with declining commodity prices for months now, and many have implemented workforce reductions because of it.

Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Valerie Jones
Editor, Careers | Rigzone
 -  Houston's Oil Industry Eyes Recovery, ... (Oct 21)
 -  Report: Majority of Women Not 'On Trac... (Oct 14)
 -  Advice for Working Millennials, from W... (Oct 13)
 -  BLOG: Survey Finds Stark Differences i... (Oct 7)
 -  US Jobs Report: Mining Employment Rema... (Oct 7)

Most Popular Articles

From the Career Center
Jobs that may interest you
Substation Field Engineering Intern Job
Expertise: Field Development|Field Service Tech|Student / Recent Grad
Location: Littlefield, TX
HR Advisor
Expertise: Cementing|HR - General
Location: Mt Braddock, PA
HR Advisor
Expertise: HR - General|Well Control
Location: Punxsutawney, PA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours