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Swiber downplays retrenchment talk

Listed O&M player says just 80 staff leaving the company instead of rumoured 300; it also denies market talk of vessel detained in China

The highly-geared balance sheet of offshore and marine player Swiber has come under tremendous pressure of late.


SINGAPORE-LISTED offshore and marine (O&M) group Swiber Holdings downplayed market talk about an ongoing retrenchment exercise at its Singapore headquarters, claiming that just 80 - instead of the said 300 - staff will be let go as part of its cost-restructuring measures