Trouble in the North Sea? Wood Group Announces Job Cuts

UK oil major Wood Group is set to cut hundreds of jobs as it prepares to release its 2023 annual results, reports suggest. According to Sky News, the London-listed oil major is eyeing up the axeing of 200 positions from its 36,000-strong employee base. The firm employs roughly 6,500 in the UK, the majority of whom are based in Aberdeen. The news comes nearly a year after a rumoured £1.7bn takeover by private equity giant Apollo Management was culled, with the investment group saying that it would make no further offers. The news wiped 35…