Paris: The low oil prices are having a torrid time for French oil field seismic surveyor, CGG, forcing it to cut back further on staff and its fleet.
The Paris-headquartered firm, which turned down a takeover bid from Technip recently, suffered a $1.2bn net loss last year.
Another 400 jobs are set to go at CGG while the fleet will be slashed to 11, down from 13 last year and 18 in 2013.
CGG top management has now hinted that they would not be averse to another takeover offer from fellow French firm, Technip.