Technip shares fell sharply in Paris yesterday as investors reacted to the French energy service company’s plans to axe 6,000 jobs globally.
The stock was down by more than 8%, wiping hundreds of millions of pounds off the firm’s market value.
A spokeswoman for Technip in Westhill, Aberdeenshire, where the group employs around 1,200 people was unable to shed any light yesterday on where the job cuts are likely to come.
The firm also has a spoolbase at Evanton on the Cromarty Firth, where it employs 10 people.
The spokeswoman said: “We have no information of the likely impact (of job cuts) at this stage.
“We regularly speak with our employees and will be keeping them up to date as things move along.”
On Monday, Technip chairman and chief executive Thierry Pilenko said the company had decided to accelerate cost reduction and efficiency measures, which would have “tough consequences” for employees across the group.
“The sharp fall in oil prices has had a substantial impact on clients’ behaviour, national and international oil companies alike,” he added.
Technip, which is looking to slash costs by £600million, gave no hint about where the axe was likely to fall but said employees would be informed “in due time on a local basis” and that workforce representatives would be consulted.
The group currently employs around 38,000 people in 48 countries.
Last September, it announced it was shutting its Westhill-based offshore wind division – hitting nearly 200 jobs.
