Transocean plans for more layoffs as another rig is idled

Transocean Ltd. (NYSE: RIG) plans to lay off 70–80 employees working on the Discoverer Americas drilling rig in the Gulf of Mexico, according to Houston Business Journal, citing documents filed with the Texas Workforce Commission. The rig has been idled because of the effects of current market conditions.

In February, Houston Business Journal reported that Transocean planned to eliminate up to 190 jobs due to the stacking of two deepwater drilling rigs in the Gulf of Mexico – the Discoverer Deep Seas and the Deepwater Champion. The rigs are two of Transocean’s 28 ultra-deepwater rigs.

In recent months, Transocean has had rig contracts canceled due to the oil price collapse, including contracts with Royal Dutch Shell and Statoil.

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