About 600 contractor jobs will go, as well as another 600 permanent staff, from around the world.
The company said workforce reduction plans would vary from country to country, based on local legal requirements and discussions with local representatives.
SBM said the restricting was expected to generate about $40 million in savings.
The redundancies will cost the company $25 million, with $17 million to be booked in 2014 and $8 million next year.
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