CGG SA (NYSE: CGG) has announced a new restructuring to begin next year that could see the French seismic survey group reduce its workforce by 25%, the CGT union said on Nov. 4.
CGG, which is due to publish third-quarter financial results on Nov. 5, declined to comment.
CGG is already cutting 2,000 jobs over two years in order to reduce the workforce to 7,700 people by the end of this year after suffering as oil exploration companies have slashed their budgets in response to a sharp drop in the price of crude.
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