Sapura Energy will be cutting about 20 percent of its full-time employees worldwide, the company’s chief executive officer (CEO) has revealed.
According to a letter sent to Sapura’s employees on Thursday by CEO Tan Sri Shahril Shamsuddin, 63 percent of the cuts will affect contract workers, while the rest will be made up of permanent employees. Sapura Energy employs more than 10,000 people, of which 4,000 are full-time workers.
“It is necessary to right-size the organization based on a focused business strategy, anticipating and managing the cyclical nature of the oil and gas industry,” Shamsuddin stated in the letter, which was sent to Rigzone on Thursday.
“On behalf of the management, I wish to thank everyone for their commitment, understanding and endurance during these difficult times. The journey ahead will require resilience, resolve and perseverance,” he added.
“My deepest gratitude is reserved for our colleagues who will be leaving us, whose careers with us had been our privilege. You contributed time, energy and knowledge to help build this company. You are part of the Sapura family and always will be,” Shamsuddin continued.
Workers impacted by the reductions will be given a severance package. Their medical coverage will also be continued for three months and they will get help with personal branding, interview skills and job leads, according to Shamsuddin.
In the letter, the Sapura Energy CEO also outlined that the company will be announcing voluntary measures to enable flexible work arrangements for those remaining in the company. These include a reduced work week, permanent home working and sabbaticals, Shamsuddin noted.
Sapura Energy describes itself as a leading global integrated oil and gas services and solutions provider. The company is based in Selangor, Malaysia, but has a presence in over 20 countries, according to its website.
To contact the author, email andreas.exarheas@rigzone.com
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