Uncertain times: Petrofac laying off staff across business segments

Petrofac is laying off staff across different business segments as an uncertain business outlook in some of its key markets triggers further cost-cutting.

The job cuts at the London-listed oilfield services player will number dozens rather than hundreds, and are affecting mostly middle and senior management roles, three people familiar with the matter told Upstream.

“The cuts are being carried out across the board,” one of them said.

One of those consulted by Upstream said Petrofac could end up downsizing its workforce by up to 200 in the latest round of redundancies, but others suggested the number would be lower.