Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Fugro to reduce workforce by 10%

Fugro
Fugro news

Dutch geo-data services firm Fugro said this morning that it would reduce its headcount by up to 10% in response to the “deterioration in market circumstances”.

Fugro said it would “rationalise” its geographical footprint, as well as implementing a hiring and salary freeze, cutting executive pay, lowering capex and scaling back on short-term charters.

The company employs around 10,000 people across 61 countries, including more than 600 in Aberdeen, where its remote operations centre is based.

Fugro said it was exploring all options for government support to “bridge this difficult period”.

Earlier this month, the company warned of the need for “painful” job cuts, but was unable to say how its UK workforce would be affected.

Releasing its Q1 results, Fugro said its revenue was still in line with last year, with growth in Asia Pacific, but decreases in the other regions, especially Europe-Africa.

Its seabed geosolutions division’s performance has been “strongly impacted” by project cancellation.

First quarter revenues totalled £311m, up 0.8% year on year, though adjusted ebitda was halved, to £6.2m.

The company said it had “good” liquidity with around £350m in available cash.

But Fugro said it couldn’t provide a “meaningful outlook” for 2020, given the high level of uncertainty in the market.

 

Recommended for you

More from Energy Voice

Latest Posts