(Reuters) – Neptune Energy plans to cut nearly 21% of its workforce, or 400 roles across nine countries, as the gas and oil producer looks to weather low commodity prices.
Energy companies across the globe have slashed their spending to save cash after oil prices collapsed due to weak fuel demand due to the coronavirus crisis.
Neptune is owned by Carlyle Group
The company employs 1,900 personnel globally.
(Reporting by Shanima A in Bengaluru and Shadia Nasralla in London)
