EMGS in New Job Cuts

Electromagnetic Geoservices (EMGS) has announced a reduction in the company’s cost base in line with a reduced level of activity.

The company said it will seek a global reduction in employee expenses of approximately 20% by using both temporary and permanent layoffs among others.

The cost reduction measure should yield effects gradually as headcount reductions onshore and offshore are scheduled to follow a different timeline.

“The market is expected to continue to be subdued until the oil price recovers and customers increase their E&P budgets. Cost reductions and cost control will therefore continue to be important focus areas in the company. However, we will maintain a footprint in our core markets to be able to efficiently market our services and be ready when the market turns,” says Christiaan Vermeijden, CEO of EMGS.

Share this article

Follow Subsea World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >