More job cuts have been announced by Australian independent oil and gas producer Santos. 200 jobs will go at Santos’s eastern Australian business unit. The news follows on from August’s announcement of 565 redundancies.
Santos, which has reported repeated losses this year, is looking to make savings of A$180m ($132.4m) this year amid the low global oil price environment.
“The job reductions are a part of a broader restructure of the eastern Australia business to make it a leaner, more agile organisation delivering lower-cost oil and gas from the Cooper Basin,” Santos said on Monday.