Norwegian drilling services and equipment firm MHWirth may cut up to 800 more jobs, just months after axing 300 positions.
According to the Norway focused Newsinenglish.com, the company is planning to cut between 500 to 800 jobs.
The company laid off about 100 full time staff members and 200 contractors earlier this year.
MHWirth has not yet disclosed how the cuts will be distributed throughout its operations.
MHWirth chief Roy Dyrseth said the firm will work with union representatives to look into the company’s manpower requirements before finalizing its job cut total sometime in October, Upstream noted.
In an email to Fædrelandsvennen, a local Kristiansand newspaper, Dyrseth wrote that the company may have to consider further cuts if it fails to win more contracts during the next year, Newsinenlgish.com said.
The company currently has 20 projects under constriction and equipment deliveries for four new-build drillships set for 2017 and 2018, Upstream added.
MHWirth has about 1,500 employees, with majority of its staff working at the company’s Kristiansand office, Splash 24/7 noted.
MHWirth is owned by the investment firm Akastor0. Norway-based Aker, owned by billionaire industrialist Kjell Inge Rokke, holds a nearly a 35 percent stake in Akastoro.