Cairn India has sacked around 250 employees to keep costs in check as falling crude oil prices hurts its bottomline, reports CNBC-TV18’s Sajeet Manghat, quoting sources.
“The past few months have brought significant changes in the global oil & gas space. The reductions in crude oil prices have deleteriously impacted the sector, globally,” the company said in a statement.
“While we continue to focus on our key projects to deliver on our commitment, we are simultaneously working on resource optimization to drive efficiencies for value generation, in the current environment,” the statement said without specifying the number of employees laid off.
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