Mar 2009 Financial News

Neal & Massy subsidiary to cut costs

Mar 06, 2009

Deteriorating global economic conditions have forced the Neal & Massy Wood Group (NMWG) to cut costs, the company has said in an announcement. NMWG, a Trinidadian company jointly owned by Neal & Massy Energy Ltd and Wood Group T&T Ltd, provides services to the upstream and downstream sectors of the energy industry.

The company said it would be reducing operational expenses. Neal & Massy Wood Group has announced steps to manage costs, including the reduction of headcount-related expenses and costs associated with other overhead and operational expenses,” read a company statement.



NMWG will continue to manage its expenses closely to remain effectively operational within the current environment,” the statement read.
Officials at Neal & Massy declined requests for clarification of the statement.


Source:
Trinidad Guardian
Friday March 6, 2009

http://guardian.co.tt/business/business/2009/03/06/neal-massy-subsidiary-cut-costs