Maersk Drilling in staff cuts

Business & Finance

Maersk Drilling has initiated a larger cost reduction and efficiency enhancement programme in response to “a weakened market for offshore rigs with lower utilisation and day rates”.

As part of this program, Maersk Drilling yesterday announced a reduction of 90 positions in the head office, of which 40-50 are to be found through redundancies.

“The fall in the oil price over the last six months has further intensified the capital discipline among our customers, leading to lower demand for offshore rigs and pressure on day rates. In order to remain competitive in this market, we need to look at ways to reduce costs and enhance efficiency.

“One of the ways to reduce our costs is to reduce the number of positions in our head office,” says Claus V. Hemmingsen, CEO in Maersk Drilling and member of the Executive Board in the Maersk Group.

Hemmingsen continues: “It is regrettable that we have to scale down the head office, however, under the current market conditions it will be irresponsible not to act. The reduction in positions in the head office will not impact the safety and operational performance of our rigs.”

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