EMCC European Monitoring Centre on Change

Wood Group

Company/Organisation:
Wood Group

Geographic Location

Country: United Kingdom

Company

Sector: Mining / quarrying
Mining and quarrying
09.10 - Support activities for petroleum and natural gas extraction

Employment Effects

Announcement Date: 18-08-2015
Planned Job Reductions min: 1000
Planned Job Reductions max: 1000
Type of Restructuring: Internal restructuring

Additional Information

Wood Group, a company which provides support for the oil industry, has confirmed that it is to cut 1,000 jobs in the UK. The company has also confirmed that jobs have been cut in the USA and in the Middle East.

The job cuts are a consequence of the falling price of oil and come during a period of uncertainty for the industry. The company which is based in Aberdeen, confirmed that the total company revenue for the first half of 2015 was down by 20%.