Saipem cuts more jobs as crisis drags on

By Stephen Jewkes and Giancarlo Navach MILAN (Reuters) - Italian oil contractor Saipem will cut 800 more jobs across Europe in the next four years as part of a plan to cope with a prolonged market crisis that will trim revenues next year. Oil service companies around the world are finding business tough as weak crude prices force oil majors to cut billions of dollars in costs. "The outlook remains uncertain ... meaningful market recovery is now delayed to 2017 and beyond," Saipem CEO Stefano Cao