Keppel Sees Prolonged Slowdown in Oil

The video discusses the challenges faced by companies in the offshore drilling sector due to overcapacity and falling demand. It highlights the financial struggles and job cuts by major companies like Hyundai Heavy Industries. The CEO emphasizes the need for realistic expectations as the market is overbuilt. Future strategies include relying on natural attrition and possibly ending contracts early. The industry has seen significant job losses and investment cuts since oil prices began falling in 2014.

What strategies is the company considering to manage its workforce?

What impact has the fall in oil prices had on employment in the oil and gas sector?