FMC Technologies cuts 2000

FMC Technologies, a Houston-based supplier of production systems to the international oil and gas industry, is the latest company in the sector to announce job cuts.

The company’s CEO has been quoted as saying that the company will reduce its workforce by 2000 people, looking to slash costs.

In its quarterly report yesterday, FMC Technologies reported fourth quarter 2014 revenue of $2.2 billion, up 5 percent from the prior-year quarter.

In a message to all FMC Technologies employees, CEO, President, and Chairman John Gremp stated that headcount reductions will affect operations most significantly in North America where rapid declines are occurring in this short cycle. He emphasized that staffing reductions will be just one facet of the company’s plans to address the downturn in activity and commitment to emerge from the downturn stronger.

Despite the rise in revenue, the company was cautious about 2015 outlook. It said that because of the uncertainty in the North American land market, the company would not provide full year guidance.

Elsewhere in the oilfield services sector, Halliburton also announced today its plans to lay off up to 6400 workers due to a dramatic fall in oil prices.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply