Subsea 7 sheds another 1,200 jobs

Offshore service vessel operator Subsea 7 is to make a second round of downsizing across its global operations and will reorganise its corporate structure in response to “continued difficult business and economic conditions in the oil and gas market”.

The Oslo-listed company will cut around 1,200 jobs in Norway and the UK by early 2017, reducing its global headcount to around 8,000 employees.

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