LIQUEFIED natural gas producer Atlantic reduced its headcount by 9 per cent last year, however, the company’s non-tax contributions to the T&T economy increased by 7.6 per cent that year.
According to its 2018 Sustainability Report, compared to 2017, there were 54 fewer people working at Atlantic last year as the company’s headcount was reduced to 567 employees in 2018 from 621 in 2017.
Atlantic’s total non-tax contribution in 2018 increased to US$423 million from US$392.9 million in 2017, an increase of 7.6 per cent.
In 2017, Atlantic also cut jobs, but reduced spending by 10 per cent. Last year, Atlantic announced that around 50 of its permanent staff were offered VSEP packages as a gas supply shortfall hampered the facility’s production.
The company lamented at the time that it was facing the toughest period in its 20-year history.
“Global LNG prices remain at depressed levels and at the same time, Atlantic continues to suffer from unprecedented levels of gas supply shortfall. Over the last two years, the severe gas supply shortages have resulted in facility utilization rates of less than 70 per cent,” the company said at the time.
“Recognisng the need to respond to the gas shortages, to streamline its activities and ensure it remains efficient in the new environment Atlantic has conducted a comprehensive review of its business – part of which has included a review of the required resources,” it added.
According to the 2018 Sustainability Report, the number of employees at Atlantic declined from 706 in 2016 to 621 in 2017.
