As Singapore business sentiments soured, retrenchments seem to be the buzzword nowadays.  This is certainly the case for Keppel Corporation, the world’s largest oil rig builder. The difference is that after letting go 8000 of its workforce for the first nine months of this year, Keppel Corporation will retrench even more staff. The sheer magnitude of this “right-sizing” exercise illustrates the current state of the offshore and marine industry. The reduction in the workload resulted in the shrinking workforce needs and required Keppel Corp to be lean. In the 3QFY16 financial report, the CEO highlighted that the culling of workforce will continue due to the weak demand for oil rigs. Wind of changes The root cause of Keppel Corp’s decline is the collapse of the oil price since 2014. The CEO suggested that it could ......