People | Service & Supply | Oilfield Services | Job Cuts / Downsize / Layoff
Frank's International to Cut 600 After Acquisition
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Frank's International N.V. is prepping to eliminate 600 jobs weeks after inking an M&A deal with Eagle Ford/Gulf of Mexico service provider Timco Services Inc.
The cuts are stemming from decreased demand for oilfield rigs and equipment. While it didn't state exactly what sectors would be hit by the cuts, Frank's noted that the cuts would be centered on divisions experiencing the sharpest decline in activity.
The company had a workforce of 4,800 at the end of 2014.