Wood Group aims to save at least £110 million and says that it will strip out duplicated roles among the 64,000 staff worldwide Andy Buchanan/PAThousands of employees are facing an uncertain future as a result of John Wood Group’s all-share takeover of Amec Foster Wheeler. The deal to create a British engineering champion values Amec Foster Wheeler at about £2.3 billion. Amec Foster Wheeler shares rose by 12 per cent to 547.16p and those in Wood Group gained 1.4 per cent to 762½p. The recommended offer will lead to job cuts, with the combined group believing that it can make “significant cost and revenue synergies”. Robin Watson, Wood Group chief executive, who will lead the combined company, gave analysts…

Source: The Times March 13, 2017 12:08 UTC