FMC Technologies, one of the world’s largest providers of subsea equipment for the oil and gas industry, will cut its workforce in Norway.
The company is responding to the depressing situation in the oil and gas market which started deteriorating when oil prices began to fall in mid-2014.
According to Subsea World News, a news website covering the subsea industry, the company will cut 700 workers, on top of 500 laid off last year in the Scandinavian country.
The news website has quoted an FMC Technologies spokesperson who reportedly said that FMC Technologies was in talks with Norwegian Union to decide on the selection criteria and selection areas. More here: ( https://bit.ly/1PTFU0C )
Lawsuits and layoffs
Apart from the layoffs, Subsea World News on Wednesday brought a story on FMC Technologies filing a lawsuit against some of its former employees, who are now running their own company Optime Subsea Services.
According to the story, FMC Technologies has accused the founders of Optime of using the FMC Technologies’ know-how and technology. Read the full story on Subsea World News here ( https://bit.ly/1qqHItA ).
Offshore Energy Today Staff