Fred. Olsen may make over 100 job cuts to reduce costs, due to its forecast of falling demand and rising fuel costs, which will in principle, affect a third of the workforce fleet, working on board ships. In addition, the company also will try to include some "minor" workers on land in the measure.
According to the chairman of the Fleet, Alfonso Gomez, this initiative will affect "some 100 workers," so the union representative assumes that the reduction of jobs is greater than 14% announced by the company last Monday.
Fred. Olsen noted that the number could be less depending on the outcome of negotiations. Altogether, the group Fred. Olsen has about 1,000 employees.
The management and workers at its first formal meeting, agreed to the commencement of negotiations. While the downsizing should be completed during September, since the company assumes in advance that "the negotiation process will not be short."
The price of crude, whose steady rise is the other main reason for moving the company to reduce labour costs, however last week there was an announcement that oil stocks in the U.S. increased by 1, 7 million barrels last week and stood at 296.9 million, compared with expectations of a loss of 400,000 barrels.
In addition, fuel prices in the Spanish market fell by 5% from the peak reached by oil prices three weeks ago, according to data published in the Bulletin tanker of the European Union.
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