Low Oil Prices Prompt Statoil To Cut Even More Jobs
by Tyler Durden
ZeroHedge.com
06/19/2015
Once more Statoil is reducing its richest asset – employees – in order to keep financial losses to a minimum because of low oil prices. It will eliminate up to 1,500 more full-time jobs and 500 temporary consultant positions by the end of 2016.
“We regret the need for further reductions,” Statoil Chief Operating Officer Anders Opedal said June 16, “but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation.
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