GE Oil and Gas Considering Further Cost-Cutting Measures
As a result of the prolonged low oil price environment, delays and cancellations of major projects, GE Oil and Gas is exploring further cost-cutting measures.
“Some weeks ago, GE Oil and Gas began consulting with employees on actions to reduce the cost structure of the business, including a number of workforce reductions and consolidation of manufacturing and service operations,” Gavin Roberts, GE Oil and Gas spokesperson, said in an emailed statement to Rigzone.
News reports have stated that as many as 80 jobs are at risk at an engineering plant in Aberdeen.
In a phone call with Rigzone, Roberts declined to specify how many jobs may be lost due to the cost-cutting consultations, but did say that the numbers reported “weren’t inaccurate.”
“We don’t make these proposals lightly, but believe action is necessary for the long-term health of the business, to remain competitive and to better meet the needs of our customers,” the email said.
No further information was provided in regard to affected regions or areas of operation.
WHAT DO YOU THINK?
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.
- Baker Hughes Clinches Integrated Services Contract For PNG Gas Field (Aug 08)
- GE Sinks as Oil Outlook Sputters, Marring End of Immelt's Tenure (Jul 21)
- GE Wins US Antitrust Approval for Baker Hughes Tie-Up (Jun 12)