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Finance

UK's Hunting weighs job cuts under EMEA restructuring

Published by Global Banking & Finance Review

Posted on March 18, 2025

1 min read

· Last updated: March 18, 2025

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Hunting Plc Considers EMEA Job Cuts in Restructuring Plan

(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)

Key Takeaways

  • Hunting Plc may cut jobs in EMEA to save £10M annually.
  • Closure of OCTG site in the Netherlands is considered.
  • Geothermal orders to be handled by UK operations.
  • Workforce consultations have begun in relevant areas.
  • Profitability expected by Q1 of fiscal 2026.

Frequently Asked Questions

What is the main topic?
The main topic is Hunting Plc's consideration of job cuts in its EMEA operations as part of a restructuring plan.
Why is Hunting Plc considering job cuts?
Hunting Plc aims to save £10M annually and return to profitability by 2026 through restructuring.
What changes are planned for the Netherlands site?
Hunting Plc is considering closing its OCTG site in the Netherlands and shifting geothermal orders to the UK.

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