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Hercules Offshore tips big layoffs as soft market forces rig stacking

Nov. 03, 2014 3:23 PM ETGlobal X Video Games & Esports ETF (HERO)HEROQBy: Carl Surran, SA News Editor
  • Hercules Offshore (HERO -6%) is laying off more than 300 employees by year's end due to the anticipated closure of four rigs in the Gulf of Mexico, the company told the Texas Workforce Commission today.
  • As of Dec. 31, HERO's workforce totaled ~2,200; all of the employees to be released work on offshore rigs in the Gulf, disembarking for travel to the rigs from the company's docks in Louisiana and Texas.

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