Petrofac axes 20% of staff over 'unprecedented' market conditions

Middle East-focused player cuts staff, spending and 2019 dividend to help preserve balance sheet

Cuts: Ayman Asfari, chief executive officer of Petrofac — Cuts: Ayman Asfari, chief executive officer of PetrofacPhoto: PETROFAC

Iain Esau

London

Petrofac Iraq Kuwait Algeria Serious Fraud Office

Published 6 April 2020, 11:28Updated 7 April 2020, 14:35