ASX-listed Beach Energy has identified A$28-million in cost savings following the successful takeover of Drillsearch Energy earlier this year, with the company saying on Thursday that 56 staff would be made redundant by April, with further staff cuts likely to follow.
Beach at the beginning of March concluded a A$384-million merger with Drillsearch, under which Drillsearch shareholders were offered 1.25 Beach share for each of their Drillsearch shares.
