Seadrill restructuring sees 1,400 job losses
After revealing plans to reshape the company, Seadrill management offers more details on how it plans to handle this effort. One part will see cost cuts that it hopes will save $130m. Another is scrapping assets whose operational value looks set to diminish amid higher costs and low oil prices
The rig operator is trying to preserve cash as it attempts to restructure and is aiming to save $130m through cost cutting