Hercules Offshore lays off 60 workers

Hercules Offshore lays off 60 workers

Houston-based offshore oil driller Hercules Offshore has started laying off workers, with 60 jobs cut in its home city.

The company recently filed for Chapter 11 bankruptcy in a Delaware court for the second time in less than a year.

Hercules is planning to operate its rigs and vessels throughout the bankruptcy process and to maintain its commitments to staff on pay and benefits.

The June 6 bankruptcy filing came as the company failed to restructure deals with creditors and could not find outright buyers.

It had emerged from its previous Chapter 11 only in November 2015.

This latest filing has been challenged by a major shareholder, Centerbridge Partners, which claims it is unnecessary.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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