Worley sheds 3000 jobs

ASX-listed engineering services provider Worley has cut 3000 jobs and secured an extra $465 million in debt to shore up its books, after plunging oil prices and the COVID-19 pandemic dented its project pipeline.

The Sydney Morning Herald is reporting the $3.6 billion company, which provides services to the resources and energy sector, told the market it had trimmed its workforce by 5 per cent, from 59,000 employees on January 31 to 56,000 by the end of March, with the bulk of the cuts weathered by teams engaged in field-based work.

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