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.
