EMGS slashes 15% of workforce

EMGS slashes 15% of workforce

Norway’s Electromagnetic Geoservices (EMGS) is restructuring in an urgent bid to cut costs by up to $10m a year. The offshore services firm will slash its global headcount by about 15%.

“Whilst the interest in our technology continues to be high, our customers are delaying, cancelling or reducing work scopes, resulting in a lower demand for our services. Therefore, we continue to focus on cost control and cash flow, and implement changes to increase the efficiency of the organisation,” said Christiaan Vermeijden, CEO of EMGS.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts