AsiaOffshoreShipyards

Keppel Offshore & Marine downsizing nears 20,000 workers

Singapore’s Keppel Offshore & Marine has revealed in its latest quarterly results that it has cut 4,900 workers from its books in the the first half of 2016. It also let go a further 670 subcontractors.

Since the company began downsizing staff at the beginning of 2015, it has reduced its global workforce by close to 11,000, and around 8,600 of its subcontract workforce in Singapore have also been let go.

Keppel continues to struggle for new orders as the offshore sector continues to hurt, and has only booked contracts worth around S$460m ($339.4m) so far this year.

Pre-tax profit for Keppel Offshore & Marine Division dropped 61% to S$88m ($65m) dragging down the overall result for Keppel Corporation.

Tags

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
Back to top button
Close
Close