EMGS must cut staff by 15 percent – Petro.no

Should reduce costs and increase efficiency.

Electromagnetic Geoservices ASA (EMGS) announces Thursday several structural changes in the organization to reduce costs. According to the company it will inter alia lead to centralization and / or merger of departments.

These changes will result in a reduction of staff globally with around 15 percent.

The measures, according EMGS waiting to save the company for annual costs of $ 10 million.

– While interest in our technology continues to be high, cancel or reduce our clients scope of work, resulting in a lower demand for our services. Therefore, we continue to focus on cost control and cash flow, and to implement changes to streamline the organization, says
Christiaan Vermeijden, CEO of EMGS.

Investor Relations Charlotte Knudsen EMGS says to E24 that 12 of cuts will happen in Norway.

– Exactly which ones to cut, I can not say, but 25 positions will be cut, of which 12 are in Norway, says Knudsen to E24.

Also in autumn notified EMGS on downsizing, when it became clear that 80 people will leave the company.

Read more: EMGS says up to 80 employees