(ANSA) - Milan, July 28 - Italian oil industry giant Saipem said Tuesday that it plans to cut 8,800 workers by 2017. The reductions are part of a restructuring plan that follows more than 900 million euros in writedowns. The company, which is 43% owned by ENI, says it has been hard by the global collapse in oil prices.
Italian oil firm Saipem to cut 8,800 jobs by 2017
Hit hard by collapse in oil prices