Offshore
Royal IHC cuts 1,100 jobs in major restructuring
Dutch shipbuilder Royal IHC is laying off 1,100 employees as part of a major restructuring  In order to return to profitability, the company is returning to…
Oil & Gas
Schlumberger cuts 21,000 jobs
Schlumberger is cutting 21,000 jobs in response to the pandemic and related oil crisis. CEO Olivier le Peuch says the second quarter “has probably been…
Oil & Gas
Shell to write off 20 billion dollars in assets, plans major reorganization
Royal Dutch Shell is preparing a major reorganization in response to the new oil crisis, which sees the company write off at least 20 billion…
Offshore
Van Oord axes 500 jobs
Van Oord becomes the latest offshore contractor to heavily cut back on its workforce. Covid-19, the slump in oil prices and deteriorating market conditions in…
Oil & Gas
Allseas to lay up vessels and dismiss several hundred crew
Offshore contractor Allseas will reduce its workforce by 300 in the course of 2020, which will mostly impact its vessels’ crews. The company says it…
Offshore
Subsea 7 cuts global workforce by 25%
Subsea 7 is laying off 3,000 employees and will reduce its active fleet of 32 vessels by up to 10 vessels in response to the…
Freight forwarding
DSV Panalpina cuts 3,000 jobs in pandemic response
DSV Panalpina is cutting 3,000 jobs as part of a cost-cutting exercise sparked by Covid-19. The freight forwarder wants to reduce costs by EUR 190…
Offshore wind
Vestas stops projects and cuts jobs in virus response
Vestas is stopping projects, axing jobs and cutting salaries of executive management by 10% in response to Covid-19. “We’re in a period of high uncertainty…
Equipment manufacturers
Temporary lay-offs and worktime reduction at Wärtsilä
PRESS RELEASE – To mitigate the negative impact caused by the pandemic, Wärtsilä is taking steps to minimise the negative impact on its operations. These…
Offshore
Aker Solutions could temporarily lay-off up to 6,650 employees
Aker Solutions might temporarily lay-off as much as 6,650 of its 16,000 employees. The company has also initiated an early retirement program and frozen all…