Singapore’s Keppel Offshore & Marine provided a dampener to festivities during Singapore Maritime Week with the revelation that the company has cut an additional 2,800 workers as the offshore downturn continues to starve the company of new orders.
The company said within its latest set of quarterly results that it has reduced its workforce by 9.4% since the beginning of 2016, with 500 of the workers let go in Singapore while 2,300 were at overseas yards.
During 2015 Keppel has reduced its direct staff and subcontracted workforce by around 13,900 because it was expecting “a possibly long winter.”
Keppel said that in the first quarter of 2016, it had reduced its total overheads by 28% compared to the first quarter of 2015.
