Companies in the North East face a perfect storm at the moment with a near record low oil price and the Coronavirus outbreak. However, Andrew believes that the level of support coming from the UK Government should mean companies avoid making staff redundant, speaking after he heard about job losses at two large oil companies, Andrew said,
“This is a time of massive uncertainty for oil and gas, of a kind not seen since worldwide prices plunged six years ago.
“Since then, the North Sea industry has made huge steps in diversifying and protecting itself against another crash.
“But firms are fighting a battle on two fronts.
“I’ve been working with the Treasury to make sure our local and global firms are supported, and it is delivering unprecedented support for businesses and employees.
“So it’s hugely disappointing for any firm not to furlough workers, particularly since the UK Government is paying the majority of wages.”
Evening Express 14/4/20