Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 4
05:34 PM ET 07/23/98

Triton cuts 65 Dallas jobs

DALLAS, July 23 - Triton Energy Ltd. said
Thursday it had cut 65 jobs in its Dallas office as part of a restructuring and cost-reduction plan.
The company said in a statement that the reduction
represents more than a third of Triton's 166 employees in Dallas and a quarter of its staff worldwide.
"We plan to reduce general and administrative expenses by about $25 million annually. This first phase of our corporate restructuring is under way and we have reduced staff and associated operating costs in all disciplines," said Bob Holland, who was elected interim chief executive last week.
The cutback in Dallas represents about half the positions to be eliminated company-wide. Triton plans additional staff reductions in Triton's offices outside the United States, where many operations will be scaled back and branch offices closed.
Triton didn't say the countries that would be affected.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.