Business News of Friday, 7 February 2020Source: classfmonline.comTullow to layoff 25% workersSome workers of Tullow OilThe recent challenges facing upstream oil firm, Tullow Oil Plc could lead to job cuts, reports suggest. According to the reports, about 25% of the total workforce in Ghana could lose their jobs this year. After a string of production downgrades, Tullow expects its production to shrink to 75,000 barrels per day this year and to 70,000 bpd from 2021. More than £1.05 billion was wiped off Tullow’s market value, leaving the company reeling, valued at £801.7m. In Ghana, Tullow Oil operates the country’s Jubilee and TEN fields.

Source: GhanaWeb February 07, 2020 17:48 UTC