Technip Cuts 15% of Global Workforce

A major North Sea operator has announced 6000 job cuts worldwide.

Bosses at Technip say the oil and gas downturn has been "prolonged and harsh"

They've announced a major restructuring, focussing on Onshore/Offshore Engineering and construction.

They're also axing 15% of their total workforce.

We don't know yet how the North Sea will be affected, but the company has a thousand employees here.

It comes the day before the Chancellor's summer budget.

George Osborne's under more pressure to give more support to the sector, with extra incentives for exploration and drilling.