Baku 12° C
Ex-partner of Gazprom in 'Turkish Stream' announces mass layoffs
Energy
- 29 July, 2015
- 12:12
Add Report.az to preferred Google sources
Stay up to date with the top news!
Baku. 29 July. REPORT.AZ/ Former partner of "Gazprom" - the Italian pipe-layer Saipem announced plans to cut costs by 1.3 billion euros to restore the competitiveness of the market, Report informs citing the BBC.
The company also forced to dismiss 8.8 thousand employees as a result of breach of contract on "South Stream" and then - on the "Turkish Stream", as well as anti-corruption investigation in Algeria and the fall in energy prices.According to the company forecasts, the net loss of Saipem in 2015 will be 800 million euros.
The company intends to carry out a massive layoffs from 2015 to 2017.
Author
Latest News
23:54
Parviz Shahbazov: Strong political ties underpin Azerbaijan–Ukraine economic cooperation
Foreign policy
23:42
Shmyhal says Black Sea–Caspian links could open new trade and energy routes
Foreign policy
23:23
Shmyhal calls on Azerbaijani companies to help rebuild Ukraine
Foreign policy
23:18
Russia plans to return nine children to Ukraine in November, official says
Region
23:06
QatarEnergy in talks with US suppliers for long-term LNG deals
Other countries
22:48
Putin ready to help end US–Iran conflict, Rezaei says
Region
22:16
Iran's Rezaei delivers letter from Khamenei to Putin
Region
21:58
Russia and Iran sign documents on Rasht–Astara railway project
Region
21:42
Zelenskyy and Costa discuss Ukraine's EU accession and Abu Dhabi talks
Other countries