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Santos Set To Slash Jobs

Santos Set To Slash Jobs

Santos is slashing jobs across its Australian operations saying ‘volatile oil prices’ are to blame.

The Australian Workers Union has reportedly told the ABC that employees and contractors received an email from the company informing them of the planned redundancies.

The email contained no detail on the number of jobs that would be lost or when the redundancies would occur.

A spokesperson for Santos told the ABC that unsettled world markets led to the decision.

“In December last year we announced a 25 per cent reduction in capital expenditure for 2015 and also flagged a review of our operational expenditure,” the spokesperson said.

“The level of redundancies will be determined through this productivity and efficiency process.”

However the spokesperson said the company would continue their operations in the Cooper Basin.

The company currently has 190 gas fields and 115 oil fields in production on the Cooper Basin which supply production facilities at Moomba in South Australia and Ballera in Queensland.

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