28.05.2020
Subsea 7 issued further details of the cost reduction programme, following initial guidance provided on 30 April. It is envisaged that the overall reduction in headcount would be approximately 3,000 from the global workforce of 12,000, by the end of the second quarter 2021. It is anticipated that two-thirds of the reduction would affect the non-permanent workforce and one-third of the reduction would affect permanent employees. Discussions with employee representatives will take place on a local basis and consultation will start soon.