CGG SA (CGG) , a seismic surveyor of oilfields, will cut jobs and accelerate reductions in its fleet of vessels after delayed orders led to a second-quarter loss. CGG will shrink its fleet to 13 vessels from 18 by the end of the year and cut about 10 percent of its workforce, or more than 1,000 jobs worldwide, the company said in a statement. Sites in Norway, Nigeria and Venezuela will be closed. That’s an acceleration of the plan unveiled in December for a 25 percent reduction in the capacity of its marine fleet through 2016, Chief Executive Officer Jean-Georges Malcor said on a conference call. The company is “clearly at ease” with its leverage and doesn’t need a capital increase, he said. The surveyor has suffered a drop in demand as oil explorers defer orders for seismic studies to curb spending. CGG deploys equipment that drags behind ships […]