Woodside Cuts 300 Jobs

Yahoo News reported that Woodside (ASX:WPL) has cut hundreds of jobs as it strives to implement plans to deliver a more streamlined organizational structure in the wake of the global slump in commodities.

As quoted in the market news,

It is not known whether the positions being made redundant will be on operational sites or at the company’s headquarters on St Georges Terrace.

A Woodside spokesperson would not comment other than to confirm the business review had been undertaken and that 300 redundancies were projected.

Woodside chief executive of Woodside, Peter Coleman, stated:

Given the price of oil has effectively halved over the past year, putting pressure on our bottom line, it is clear that we must accelerate existing plans to improve efficiency and effectiveness throughout the business .This includes bringing forward delivery of a more streamlined organisational structure in which we have the right number of people in the right places doing the right work to deliver on our aspirations.

Click here for the full Yahoo news report