CGG Norway has announced a need to cut as many as 70 % of its workforce by the end 2017. Employees were informed of the new cuts this week.
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The majority are being sacked.
France to ban oil and gas production by 2040!!!
http://www.nydailynews.com/newswires/news/world/france-ban-oil-gas-production-2040-article-1.3472962
A few of my colleagues got told a couple of weeks ago, not sure on the scale of the job losses though.
Chapter 11 (Claim Info):
https://cases.primeclerk.com/cgg/Home-ClaimInfo
Was CGG Norway profitable at all?
No, (2012-2016).
CGG Marine (Norway).
https://www.proff.no/regnskap/cgg-marine-norway-as/oslo/r%C3%A5dgivende-ingeni%C3%B8rer-geoteknikk-og-ingeni%C3%B8rgeologi/Z0I3KKUQ/
There isn't enough work around to keep small offices open for so long especially when it appears if there is no end to the recession in the oil industry. Hence it is not surprising to hear more layoff and office closure elsewhere in the coming days or months. There was already some layoff since Chapter 11 was filed but at a lower scale and it was done quietly. Don't forget that CGG restructuring plan is based on an oil price of $50 to $65 in this year and on a price of $80 in 2018 and onward which won't happen soon.
Was CGG Norway profitable at all?
Possibly Processing Dept. If I am not mistaken, Norway Marine & acquisition department was already shut down. About 40-45 are still working in processing department plus R&D , Multi-client, local management and administration team. 85-90 in total.
Which departments are being hit?
About time to shut down all those "strategic" centers that have been loosing money for years and years. Nowhere to hide anymore ...
There's no smoke without fire! (Not 100% true, but close enough)
Is this actually true? I haven't seen anything to suggest it is.
HR don’t know what to do!
HR will do that, I guess!
Will the last person to leave CGG Oslo please turn out the lights?