Jobs go, savings flow at Beach

BEACH Energy's merger with Drillsearch Energy earlier this month should result in $28 million per annum in pre-tax savings, both from a reduction in duplicated costs which partly arose from joint ownership of Western Flank oil and gas assets in the Cooper Basin, and around 56 redundancies, mostly ex-Drillsearch employees.

Beach acting CEO Neil Gibbins says the company will have around 226 employees by the end of next month following a plan to merge back-office roles and make do with fewer staff.


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