200 SA jobs go to make Santos “leaner, more agile”
South Australia’s resources sector has suffered another jobs blow with Santos announcing it will shed a further 200 staff from its Adelaide-based operations.
In a statement issued on Monday afternoon, Santos announced the job losses as part of its ongoing cost cutting measures as it deals with low oil prices.
“The job reductions together with additional initiatives to simplify the business will deliver approximately $100 million in cost savings across the company’s Cooper Basin activities over the next three years” Santos said in its statement.
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“The job reductions are part of a broader restructure of the eastern Australia business to make it a leaner, more agile organisation delivering lower cost oil and gas from the Cooper Basin.
“The organisational changes are consistent with the objectives of the company’s strategic review announced in August, to restore and maximise shareholder value.”
The 200 cuts to office-based positions follow the loss of 565 positions across the country, resulting in a 55 per cent reduction in capital expenditure and 11 per cent reduction in unit production costs.
