Oil services firm Subsea 7 to lay off 3,000 following oil market slump

OSLO (Reuters) - Oil services firm Subsea 7 announced on Thursday that it will cut its global workforce by a quarter and reduce its fleet of specialized vessels by up to a third to preserve cash following the slump in the oil market.The company said it planned to lay off about 3,000 workers, both contractors and permanent employees, by the end of the second quarter of 2021. The company has operations in around 30 countries but did not say where jobs would be cut.Oil companies have reduced..