Wood Group slashes jobs amid oil price plunge
WOOD Group has said it has cut around 5,000 jobs this year, including 1,000 in the UK, in response to the oil price fall which took a heavy toll on first half profits.
The Aberdeen-based oil services giant made $160m (£102m) profit before tax and one-offs in the six months to 30 June, down 13 per cent from the $184m it made in the same period last year.
Led by chief executive Bob Keiller, the company said it has cut global workforce numbers by 13 per cent, from 40,000 in January to around 35,000.
Brent crude has fallen to less than $50 per barrel from $115 in June last year.
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