Repsol sends home 11 workers

Date: 
Wednesday, January 20, 2016 - 20:00

Another energy company has sent home workers. This time, it's Repsol.

The company sent home 11 permanent workers today.

In a statement, Repsol says the oil and gas industry has been shocked by an unexpected, sudden and dramatic fall in oil prices.

The company says this is the first time it has sent home permanent employees since the price of oil started to fall. Repsol sent home contract workers last year.

Repsol says from 2015 to present it has embarked on many cost savings initiatives to make its business sustainable.

Repsol goes on to say that market conditions have worsened, and it is always seeking alternative measures to reduce cost.

FOR MORE TOP STORIES: http://www.cnc3.co.tt/latest-news