El Paso starts to cut London staff

Fuente: Platts

 

The US energy marketer El Paso Corp has started to make redundancies at its London office, industry sources said Tuesday. The Houston-based company is expected to make about 30 of its 140 London staff redundant after a month-long consultation period. Heads of trading desks are believed to be among the first to be made redundant. El Paso declined to comment. On May 29, the company said it was laying off half its 600 merchant energy trading staff worldwide. Earlier this month, El Paso said it was closing several of its South American offices in a sweeping consolidation of its worldwide operations.

About 100 employees in the Houston offices were terminated in the beginning of June.