News: Cairn Energy lays off 40% staff

Strategic HR

Cairn Energy lays off 40% staff

Oil exploration firm, Cairn Energy plc has sacked nearly 40% of its staff following capital shortage owing its inability to sell $1 billion worth of stake following a tax dispute in India. The company laid off 100 employees across the board as a cost cutting measure. Due to its inability to bring capital the voluntary redundancy was caused.

Oil exploration firm, Cairn Energy plc has sacked nearly 40% of its staff following capital shortage owing its inability to sell $1 billion worth of stake following a tax dispute in India. The company laid off 100 employees across the board as a cost cutting measure. Due to its inability to bring capital the voluntary redundancy was caused.

Read the Economic Times news report here.

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Topics: Strategic HR, #Corporate, #Current

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