ION

Oil & Gas

ION Geophysical to reduce global headcount by 25%

03/09/2015

ION Geophysical Corporation said it plans to reduce its global headcount by 25% in a bid to streamline costs. The company said it has implemented an “aggressive” cost reduction initiative as part of an overall plan to align its operating expenses. ION said it expects to incur up to $6million in termination costs as a result of the move.