GE Oil and Gas Considering Further Cost-Cutting Measures

GE Oil and Gas Considering Further Cost-Cutting Measures
As the global oil glut continues, GE Oil and Gas look for ways to further reduce costs.

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.

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

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