Schlumberger cuts another 11,000 jobs in wake of oil crash
Source: Fuelfix.com
HOUSTON – Oil field services firm Schlumberger announced Thursday it plans to ax another 11,000 workers, kicking off what could be a second major wave of layoffs across the oil industry.
The move will bring Schlumberger’s layoffs up to 20,000, roughly 15 percent of its workforce, since it began paring back its workforce to cope with low oil prices. The nine-month oil slump has cost the energy industry more than 120,000 jobs so far, according to oil field staffing firm Swift Worldwide Resources.
Oil equipment companies have been forced to fine-tune their workforce as they promise oil companies up to 20 percent in price reductions for rental tools, equipment and other services, said James Wicklund, an analyst at Credit Suisse.
Schlumberger, based in Houston, Paris and the Hague, said it took a $390 million charge related to the job cuts in the first quarter.
Read more: http://fuelfix.com/blog/2015/04/16/schlumberger-cuts-another-11000-jobs-in-wake-of-oil-crash/
= new reply since forum marked as read
last quarter. Only $975 million. 
