Odfjell Drilling Confirms 200 Job Cuts Globally

Odfjell Drilling has confirmed to Rigzone that it will be cutting around 200 jobs globally in response to the lower oil price environment.

Commenting on the reason for the layoffs, which will be implemented immediately, an Odfjell Drilling representative told Rigzone that they were “due to loss of contracts” and the continuing “negative development in our markets”.

The Odfjell Drilling representative revealed to Rigzone that the company “see no signs of immediate market change to the positive” and stated that the firm’s “primary objective is to make Odfjell Drilling able to come through this challenging period and prepare the company for the future growth when the market turns”.

Additional cuts in the future were not ruled out either, with the representative saying that job numbers at the company were dependent on the market and activity level. 

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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