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Santos Trimming Workforce in Eastern Australia
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Santos announced further head-count reductions in its Eastern Australia business as part of its ongoing drive to cut costs across the Company in the current period of low oil prices.
The organisational changes are consistent with the objective of the Company’s strategic review announced in August, to restore and maximise shareholder value.
Approximately 200 jobs, mainly Adelaide-based office roles, will be removed. The job reductions together with additional initiatives to simplify the business will deliver approximately $100 million in cost savings across the company’s Cooper Basin activities over the next three years.
The job reductions are a part of a broader restructure of the Eastern Australia business to make it a leaner, more agile organisation delivering lower cost oil and gas…
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