Curtis Island workers could be axed in new job cuts

AS SANTOS turns its focus to tackling its high level of debt, it's understood the gas company is looking to shed jobs and sell some of its assets.

Although it would be outrageous to think the struggling company would sell off its LNG plant on Curtis Island, the same could not be said about the security of existing jobs on the Island.

A Santos spokesman confirmed the next round of cuts had started under new managing director Kevin Gallagher.

Santos has reported a US$1 billion loss for the first half of this year.
Santos has reported a US$1 billion loss for the first half of this year. Ashley Roach - Fullframe Photogr

There were more than 250 cuts at Santos in the first half of the year, which came on top of 800 the previous year.

Last week, Santos announced that it would start hedging oil to better protect the company against any further drop in oil prices.

"Santos is continuing to embed its new operating model to ensure it is sustainable in the current oil price environment," a spokesman said.

"As this model is refined we are removing duplication and increasing efficiency across the operations."

This round of cuts could put workers at GLNG in the firing line despite production at the plant increasing "to meet LNG plant demand".

The Santos spokesman said he would not provide any redundancy figures "as this is a rolling process".

There will be an update on redundancies at Santos' Investor Day in December.



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