Houston: Transocean cuts offshore jobsHouston: Transocean cuts offshore jobshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=121722016-02-18T06:00:00Z2016-02-18T17:45:00Z

​​HOUSTON - Switzerland-based Transocean Ltd., which has its main U.S. office in Houston, is cutting up to 190 offshore jobs on two deepwater drilling rigs in the Gulf of Mexico.

The company will stack Discoverer Deep Seas due to the cancellation of the rig’s current contract and market conditions. 

It will also stack Deepwater Champion due to market conditions. The rigs are two of Transocean's 28 ultra-deepwater floaters, according to the company's website.

Between 130 and 140 employees from Discoverer Deep Seas will receive layoff notifications during the two weeks that started February 10, the company told the Texas Workforce Commission. 

Between 40 and 50 employees will receive notification during the 14-week period beginning February 17.

All of the employees report to Transocean Offshore Deepwater Drilling Inc. in the company's U.S. corporate office at 4 Greenway Plaza, where it renewed its lease of 255,413 sf until January 2023.

The company will offer a severance package to all affected employees, who do not have bumping rights, meaning workers with more seniority cannot take the jobs of those with less seniority. 

Although the job cuts are expected to be permanent, the company could recall a percentage of the employees if it obtains a contract for additional work.

Offshore has been hit particularly hard during the oil slump, and Transocean has had other rig contracts canceled in recent months.

Houston Business Journal
Houston-The Woodlands-Sugar Land
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