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: 04-05-2016
Planned Job Reductions min: 300
Planned Job Reductions max: 300
Type of Restructuring: Internal restructuring

Additional Information

Wood Group is planning to cut 300 jobs from its onshore workforce. The oil services company will shortly start a consultation process with 1,000 at risk staff across various parts of the UK. The latest news is something of a surprise, given that the previous week the company had announced a new contract to provide services in Azerbaijan. A spokesperson for the RMT union stated that the announcement of 300 jobs losses was much higher than the union had expected. The latest cuts continue a recent trend of cutbacks in the oil industry and of job losses in the Wood Group, both in the UK and worldwide. It is not yet known when the job losses will take effect; any news in this regard will be released following the completion of the consultation period.