Santos set to announce sweeping job cuts

Monday, 12 October 2015

More bad news for SA as Santos disintegrates, from BS:

The listed oil and gas business is understood to have hired global corporate consultants McKinsey to undertake a brutal restructuring and cost-cutting program.

However, this may even be implemented in parallel with an asset sale…The latest talk of job cuts comes after recent reports from market sources that Santos recently made 10 of its 16 top general managers redundant.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.