Offshore downturn leads to restructuring, job losses at MacGregor
Up to 190 employees at MacGregor are expected to lose their jobs as the company announced plans to achieve annual cost savings of €13 million (US$15 million).
MacGregor President Michel van Roozendal said demand for offshore load handling systems was running at a low level in a “challenging” market.
He said merchant ship contracting improved slightly between January and September 2017, compared to the same period last year, but remained at a very low level.
The low price of oil was keeping offshore investment at low levels, which affected demand for offshore load-handling solutions – hence the need for costs savings through a restructuring of operations and personnel reductions.
Likely to affect operations in Norway, Germany, China and Singapore, the plans include the split of its smart ocean technology division into a cargo handling and advanced offshore solutions division.