Lamprell made a further 20% cut to its headcount last year including some positions at senior management level.
The company gave a pre-closing date update in which it said as several large projects progressed to delivery or final stage of construction, a number of yard workforce had also been let go.
It means there has been an overall reduction of 4,000 people from the firm since last year.
In the statement, Lamprell said most of the rigs stacking in its facilities throughout the year have also remained inactive.
John Kennedy, Executive Chairman, Lamprell, said:”The board recognises and welcomes recent change in oil & gas market sentiment and the likelihood ofstronger product pricing in 2017, especially as the year elapses.
“However, we also recognise that all our customer 2017 capital budgets are already established and in place, and that there is little expansive flexibility in the associated expenditures.
“For these reasons, the company continues to believe that 2017 will prove a particularly cautious environment and will continue to maintain tight over expenditure and expenses and, more especially, continue to position Lamprell for work in future years.”
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