Energy service giant Weatherford International is axeing 9% of its global workforce as the job cull across the oil and gas industry in response to low crude prices continues. The latest redundancies mean about 5,000 people among Weatherford’s 56,000-stong head-count will soon be out of work. But the group’s largely Aberdeen-based eastern hemisphere operations, serving markets such as the North Sea, Middle East, East Asia, Australia and west Africa, will be spared the worst.
Weatherford will reduce its workforce by 9% - estimated to be around 5,000 jobs – as it looks to save costs. The company said the job losses will be made to staff within its operation and support positions and are most likely to be made in the Western Hemisphere. The move is in line with a number of companies, including BP and Schlumberger, who have announced a reduction in their headcounts.