AMOCO ANNOUNCES LAYOFFS.

Continuing low international oil prices have forced the Amoco Energy Co. of Trinidad & Tobago to lay off 139 workers, reports CANA (February 8, 1999): The 19% reduction from the 730 full-time employees will affect workers at Amoco's two offices in Trinidad and its Houston, U.S support office. The reorganization will involve the recall of the majority of Trinidadian nationals abroad on foreign assignments, the repatriation of expatriates assigned to Amoco Energy at the Houston support office and the severance of a number of national and expatriate employees in Port of Spain; Severance will affect 11% of Amoco Energy's employees in Trinidad while expatriate staff including Houston-based personnel assigned to the company will be reduced by 42%, says Amoco Energy Chairman David Wight, who adds that some of the workers have already found jobs with BP Amoco international; "Amoco Energy and the larger BP Amoco organization are committed to the further growth and development of the energy industry in Trinidad & Tobago," said Wight. "We will continue to actively pursue growth projects with the Government and the (state owned) National Gas Co. in domestic and export markets."