Subsea 7 to shed 85 jobs to cope with slump

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A total of 85 jobs are to be axed across the UK operations of engineering and construction company Subsea 7, which employs around 1,000 people at Westhill, near Aberdeen.

A spokesman was unable to give a breakdown of the job cuts yesterday, saying the firm was just starting a 30-day staff consultation.

The Westhill site supports Subsea 7’s global activities, with the staff there forming part of a 5,500-strong international workforce.

Elsewhere in the UK, Subsea 7 employs up to 70 people at any one time at a fabrication yard at Wester, near Wick, and more than 100 at offices in London.

The company provides products and services required for oil and gas subsea field development.

A statement from the firm said yesterday: “Subsea 7 recognises it is not immune to the impact of the global credit crisis and the ensuing global recession that we are experiencing.

“It anticipates that during the second half of this year and throughout 2010 it will experience challenging market conditions, with reduced activity and a tougher competitive environment.

“The downturn in activity will require a rationalisation of its operations and a reduction in the size of its organisation globally in order to remain competitive in this environment, while ensuring that Subsea 7 remains strong and ready to optimise its position when the market improves.”

In addition to the staff positions being cut, Subsea 7 said it was cutting a significant number of contract posts but gave no further details on this.

The firm added it remained confident in the long-term prospects of the subsea sector, saying it would come out of the downturn a “more efficient and ultimately stronger organisation”, well-placed to make the most of opportunities an upturn in the market would bring.

www.pressandjournal.co.uk

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