Gas giant Santos lays off about 200 staff, most based in Perth
Gas giant Santos has announced a cut of 200 jobs, citing slow project approvals as a key factor influencing their decision. This move highlights broader challenges within the industry, including regulatory delays that impact business operations and economic efficiency. Reporter Bethanie Alderson provides more insight into this development from outside Santos headquarters in Adelaide
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00:00 Oil and gas company Santos released a statement yesterday revealing about 200 of its staff
00:07 members have been laid off following a detailed review into its Western Australia, Northern
00:11 Territory and Timor-Leste business unit.
00:14 Santos says one of the reasons for the job losses is that new project approvals are taking
00:19 longer delaying some of the company's growth activities.
00:22 It also says with some of its late life assets nearing closure there's also an increasing
00:27 near term focus on capital intensive decommissioning activities.
00:31 The company says the roles affected are mainly Perth based with a small number based in other
00:36 locations.
00:37 WA's Premier Roger Cook responded to the layoffs telling parliament Santos was referring to
00:42 Commonwealth approvals as the company currently has no projects before the state's Environmental
00:47 Protection Authority.
00:49 He says he's certain the impacted employees will find work elsewhere.
00:53 I suspect Madam Speaker that there are oil and gas companies right across Western Australia
00:57 at the moment which are rubbing their hands with glee to get hold of these workers.
01:02 The fact of the matter is there is a huge demand for workers in this particular sector.
01:07 In its statement Santos said it had not made this decision lightly and said support will
01:11 be provided to impacted employees.
01:14 Santos which has its headquarters based in Adelaide had previously been in merger talks
01:19 with Perth based global energy giant Woodside which could have seen the creation of an $80
01:24 billion company.
01:25 In February Woodside announced that those merger talks ended without a deal.
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