Finance
UK's Hunting weighs job cuts under EMEA restructuring
UK's Hunting weighs job cuts under EMEA restructuring
Published by Global Banking and Finance Review
Posted on March 18, 2025
(Reuters) -Britain's Hunting Plc said on Tuesday it was considering cutting jobs at its EMEA operations which could save the energy services firm about 10 million pounds ($13 million) annually.
The London-listed company is considering shutting down its Oil Country Tubular Goods (OCTG) operating site in the Netherlands, with future orders related to geothermal activity to be fulfilled by its UK operations.
"Workforce consultations have now commenced in the relevant jurisdictions," Hunting said, without specifying the number of jobs that could be affected.
Hunting expects its EMEA operating segment to return to profitability by the first quarter of fiscal 2026, it added.
($1 = 0.7698 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Shailesh Kuber)
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