Atlantic LNG offers VSEP to workers

Tuesday, June 13, 2017 - 08:15

Yet another energy company is seeking to trim staff. This time Atlantic LNG is offering its workers early separation packages.

The following is Atlantic LNG's statement.

"Atlantic will on June 14 2017, make a Voluntary Separation of Employment Package available to permanent employees.

Atlantic is facing the toughest period in its 20-year history. Global LNG prices remain at depressed levels and at the same time, Atlantic continues to suffer from unprecedented levels of gas supply shortfall. Over the last two years, the severe gas supply shortages have resulted in facility utilization rates of less than 70%.

Recognizing the need to respond to the gas shortages, to streamline its activities and ensure it remains efficient in the new environment Atlantic has conducted a comprehensive review of its business – part of which has included a review of the required resources.

Regrettably, Atlantic will be reducing its permanent staff by what is expected to be less than 50 persons, equating to approximately 7%. It is hoped that the reduction can be achieved as far as possible via voluntary separation."