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September 23, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Noble Americas Corp. cutting Stamford, Houston jobs

Noble Americas Corp., a coal and petroleum products division of Hong Kong commodities trader Noble Group Ltd., is laying off 84 workers at its regional hubs in Stamford and Houston. The job cuts are scheduled to take place by Dec. 31.

The move follows an Oct. 23 announcement that Noble Americas was selling the U.S. hubs to Switzerland’s energy and commodities company Vitol.

Noble is negotiating a debt restructuring program with its creditors to stay out of an insolvency process; its debt reportedly stands at about $3 billion.

Noble did not return requests for comment.