Wood Group PSN 10% rate cut.

[Cosmokramer]

Apparently this is an industry wide intiative (probably conjured up at a recent Oil & Gas UK meet given Dr Alix Thom's appearance in a related news article) and it is expected that more firms will follow suit.

It is a very myopic approach as at the end of the day the rates are set by the market. The contractors worth their salt will leave and the dead weight will remain. The result being that the clients (operators) will get a lower quality service.

I think any offer of staff roles will have a very low up take.

[eek]

The worst office I've ever had the misfortune to visit was a wood group one.

Hell would need to freeze over before I worked there for more than the very occasional day.

[Fred Bloggs]

Are they the lucky ones or the unlucky ones?

Presumably it's a "take a staff job or leave" scenario?

[TheFaQQer]

Some contractors will be offered the opportunity to become staff.

Are they the lucky ones or the unlucky ones?

[Fred Bloggs]

Wood Group PSN rate cut. Apparently AMEC are now also "reviewing" their rates. Hopefully this round of rate cuts won't spread to the London area O&G market.