JOBS have been axed from Portland underwater engineers Global Marine - just weeks after the business was taken over.

It is believed around half a dozen land-based staff at its island depot have been laid off following a decision by the company's new owners to put it into administration.

The procedure can be used for businesses in financial difficulty and involves experts being brought in to cut costs.

Global Marine quality engineer Mike Symonds said that several members of the 10-strong back-office workforce on the island had been let go.

Staff had also gone at the head office in Chelmsford, Essex, he said.

Mr Symonds added: "The company is in administration, but that is part of the restructuring process brought about by the new owners.

"It is not a long-term measure - we are not in receivership or in liquidation."

Mr Symonds said he was expecting the business to continue operating from Portland.

He said: "As far as I am aware it is business as usual but with fewer people.

Six weeks ago the company was sold for £132 million to Bridgehouse Marine Ltd, owned by specialist marine financier Bridgehouse Capital.

At the time Bridgehouse managing director Andy Ruhan said: "We are now looking forward to the next chapter for Global Marine.

"It has unparalleled experience in its field and has a strong business base from which to expand and diversify into new business and complimentary markets.

Portland Port director Rupert Best said Global Marine was currently a significant customer of the port.

He said: "The cable industry had been going through a difficult time and we understand Global Marine is going through a restructuring process.

"It is too early to say what the effects will be, but our expectation is that it will continue to stay at the port."