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Standard Life maps strategy for new pensions era after jobs axed
STANDARD Life, the Edinburgh-based insurance giant, has confirmed plans to cut 139 jobs as it restructures its UK business in preparation for radical reforms in the pensions industry. The group said it needed to introduce “more streamlined and flexible organisational structures” to meet the twin challenges of the retail distribution review and new rules forcing employers to provide pensions for all eligible members of staff.
ENERGY & UTILITIES
Subsea firm Rovop to take on 60 more staff
ABERDEEN subsea specialist Rovop expects to treble its workforce amid continuing demand for its remote operated vehicles (ROVs) across the offshore energy sector. The jobs are being created in conjunction with a £15 million investment in additional equipment by Rovop, which will increase its staff from 30 to 90 over the next 18 months.
Decom peaks ‘could tax sector’
Decommissioning projects in the UK North Sea could be a strain on the supply chain during peaks in the workload in the coming years, an expert said yesterday. Alex Kemp, professor of petroleum economics at Aberdeen University, said more than 600 fields could be decommissioned between now and 2042, but there would be busy and quieter periods.
Largs maritime services firm MCS invests £9m in vessels
A Scottish maritime services company is to expand its operations in Europe, after buying three new vessels worth nearly £9m. Largs-based Maritime Craft Services (MCS) will use the boats to service its offshore energy operations in Germany and Denmark, as well as at home.The move could create 30 new jobs and generate up to £3.2m turnover per year.
Cupid promises profits growth
Internet matchmaker Cupid promised bumper profits for its financial second half in a bullish trading update today. The Edinburgh-based firm said it is now delivering a financial performance that is at least one year ahead of where it expected to be when it floated in June 2010.
Optos looks to invest as revenues jump 37%
EYE scanner firm Optos said it was stepping up research into more portable devices as it surprised the market with a bigger-than-expected jump in revenues yesterday. The Dunfermline-based company saw income rise 37 per cent to $196.4 million (£123.5m) in the year to the end of September.