By 83334,Nl Times
Copyright nltimes
Geotechnical survey and soil research company Fugro on Monday announced a further reduction of 300 jobs and withdrew its full-year 2025 financial guidance. In its press release, the company cited market challenges in the offshore wind and oil and gas sectors. Following the announcement, Fugro’s stock fell around 10 percent on Monday.
The company said that “a wide range of projects has been affected – with most experiencing postponements into 2026 and some being descoped – resulting in an estimated revenue impact of around EUR 100 million.” Fugro had previously anticipated 20 percent revenue growth for 2025, which it now considers unrealistic.
Fugro operates more than 1,700 employees in the Netherlands and roughly 11,000 globally. Earlier this year, the company announced cuts of 750 jobs. In addition to the 300 new reductions, management plans to further optimize its fleet, including warm stacking several geophysical vessels during the upcoming winter season, and significantly reduce capital expenditures for 2026.
“Management is fully committed to safeguarding profitability and cash flow by further reducing costs and strong capital discipline,” the company said. “These additional measures will start to take effect in late 2025, with their full impact expected to be realized in 2026.”
The recent market slowdown has been particularly acute in Europe and Africa, where Fugro operates a large part of its fleet. Delays and cutbacks, combined with lower commodity prices, have reportedly created a challenging business environment and led the company to withdraw its 2025 guidance.
