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April 29, 2009 12:01am
SANTOS will lay off more than 50 staff because of the global financial crisis and low oil prices.

Another 90 or so contractors would also lose their jobs.

An email sent to staff yesterday by chief executive David Knox said the company had recently completed a review of the business, leading to the elimination of some roles.

“We have tried to minimise the impact on our employees by reducing both external recruitment activity and the size of our contractor base,” Mr Knox writes in the email, obtained by The Advertiser.

“We have also initiated a redundancy program today that will affect less than 60 employees.

“This process is now underway and I expect that most of those affected will have had conversations with their leaders by tomorrow afternoon.”

“I also want to reassure you that, while we must always continue to review our operations, what we have done to date has been thorough and extensive and I hope sufficient to position Santos to weather this economic storm.”

In addition to the redundancies, 70 staff were offered alternative roles, including several at the company’s Gladstone liquefied natural gas (GLNG) project in Queensland.

Santos employs about 2000 people across its operations in South Australia, Queensland, and Indonesia.

Santos spokesman Matthew Doman said yesterday the redundancies were across all levels and operations.

Santos made a net profit of $1.7 billion in 2008, however almost $1.2 billion of that came from the sale of a 40 per cent stake in its GLNG project.

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