Taqa Slashes Jobs, Costs as Losses Grow

摘要

State-controlled Abu Dhabi National Energy Co. (Taqa) has slashed capital spending, operating costs and its employee head count this year as it adjusts to lower oil prices that have pummeled revenue and dragged it into a nine-month year-on-year net loss. The Abu Dhabi-listed international energy and water company, which is active in 11 countries, has cut its global oil and gas workforce by 25% since July 2014, including a 39% reduction at its Abu Dhabi headquarters.