Aberdeen-based Xodus Group is set to cut jobs and reduce costs after losses in 2025 and falling behind budget targets early this year.
Chief Executive Stuart Holley warned staff in an email seen by The Press and Journal there would be “headcount and overhead reductions” to keep the energy firm "financially resilient".
The email, The P&J reports, read: “2026 is a recovery year for Xodus. Our focus is on stabilising the business and improving performance so that from 2027 onwards we can consistently deliver results, return to sustainable profitability and prepare the business for future growth.”
It went on: “With no expectation of significant short-term revenue growth, some organisational changes, including limited headcount and overhead reductions, are necessary to ensure Xodus remains financially resilient.”
It added: “We know this is a difficult and unsettling period, and we’re committed to moving through the process quickly to reduce uncertainty.”
Read the full story in The Press and Journal.