Amec Foster Wheeler is to slash offshore contractor rates only a day after CEO Samir Brikho stepped down over the company’s performance.
According to Amec, contractor pay rates within the UK, both onshore and offshore, will be slashed by 7.5%, with the reductions expected to be complete by 8th February 2016.
Amec FW To Slash Offshore Contractor Rates
Commenting on the reductions, Amec FW MD for Upstream Asset Solutions, Alan Johnstone, said: “The industry continues to face challenging times and after much consideration, we have taken the difficult decision to reduce contractor rates.
“We are determined to keep our business and the industry sustainable for the long term and this is just one of many measures to address cost and efficiency.”
Johnstone added: “We are committed to continually improving the way we work and our cost base so we can offer our customers cost effective services whilst strengthening the UKCS as an attractive long term market for the future.”