Oil Search workforce cut by one third by year's end

OIL Search has reduced its workforce by some 400 employees since March and another 137 are set to go by the end of the year in the wake of the buckling oil price.

Oil Search workforce cut by one third by year's end Oil Search workforce cut by one third by year's end Oil Search workforce cut by one third by year's end Oil Search workforce cut by one third by year's end Oil Search workforce cut by one third by year's end

RBC maintains its Sector Perform recommendation.

The cuts come after Oil Search completed a "detailed and systematic" review of its organisation and cost structure.