The Courier & Advertiser (Fife Edition)
Fife jobs to go as downturn in oil industry bites
ROSYTH: Union fears up to 20 redundancies at cable factory
Skilled manufacturing jobs are set to be lost as a major Fife employer has entered redundancy talks.
Oceaneering confirmed yesterday that it has started consultations with 300 workers “throughout the UK” as it seeks to make scores of redundancies amid the Covid-19 downturn.
The oilfield services company, which specialises in manufacturing subsea cables, employs more than 220 at the Port of Rosyth.
Unite the Union forecast that around 15 to 20 jobs would be axed from the Fife facility and almost 130 jobs lost nationwide.
In October the company, which employs 10,000 people worldwide, said it had a full order book at Fife for the next 18 months.
However, the Covid-19 pandemic, and resulting oil downturn, led to heavy impairments and write-downs in the value of the company’s assets.
Chief executive Roderick Larson warned of headcount reductions as it adjusts “staffing levels and geographic footprint”.
Skilled manufacturing jobs are at risk at a major Fife employer which has entered redundancy talks with hundreds of staff.
Oceaneering, which has a workforce of more than 220 at the Port of Rosyth, confirmed yesterday that it has started consultations with more than 300 staff “throughout the UK”.
The oilfield services company, which specialises in manufacturing subsea cables, has operated in Fife for 20 years.
It is understood that 340 jobs have been placed at risk UK-wide as the firm looks to make around 20 staff redundant in Rosyth and make almost 50 cuts in Aberdeen.
Bob McGregor, regional officer for Unite the Union, said: “The redundancy process started last week and affects the service and technical department that goes out to different sites.
“There will unfortunately be redundancies in Fife, probably around 15 to 20 jobs.
“Last year Oceaneering tried to adjust the terms and conditions of around 40 workers in Aberdeen and it looks like they are trying to strong arm them into accepting what they want to do. Those jobs are at risk in Aberdeen as well as some office staff.
“We will be supporting our members through this process.”
Last month the Houston-headquartered firm posted a huge jump in its pre-tax losses at $397.8 million (£313.7m), more than 13 times the $27.9m (£22m) deficit in the same period last year.
The Covid-19 pandemic, and resulting oil downturn, led to heavy impairments and write-downs in the value of the company’s assets.
Chief executive Roderick Larson warned of headcount reductions as it adjusts “staffing levels and geographic footprint”.
He said: “Many of the markets we serve are being profoundly affected by the effects of and the associated responses to Covid-19, as well as the significant reductions in our oil and gas customer spending as a result of the lower crude oil price environment.”
Additional cost cutting savings would be made in the second and third quarters, Mr Larson added at the time.
The firm opened a new office in Dyce in March. Last August the engineering firm also announced construction of a new workshop and yard at the D2 Business Park in Aberdeen, due for completion in mid-2020.
An Oceaneering spokeswoman said: “We can confirm around 300 UK employees are in redundancy consultations. The roles are located throughout our UK offices.”