Neptune Energy to cut 400 jobs from global workforce
Allister Thomas
5 hours ago
Neptune Energy plans to cut 400 jobs, around a fifth of its global workforce. Pictured: Cygnus, the firm's main UK asset.
Neptune Energy plans to cut 400 jobs, around a fifth of its global workforce. Pictured: Cygnus, the firm's main UK asset.
Private equity-backed operator Neptune Energy has announced proposals to cut 400 jobs globally, representing around a fifth of its workforce.
The losses will fall across nine countries as the company “reshapes” amid the oil downturn brought on by Covid-19.
All 400 will be in office roles, meaning operations will be unaffected, with half expected to come from staff while the remainder will be from contractor positions.
Neptune, which employs around 140 people from its Aberdeen base, has not disclosed how many of the job cuts will fall in the UK.
A spokesman said: “The challenges facing the global oil and gas industry are clear and we know we must take further steps in order to emerge stronger and in a position to continue making a positive contribution to society’s energy needs.”
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