Service & Supply | Oilfield Services | Job Cuts / Downsize / Layoff | Capital Markets | Impairment
Schlumberger Cuts Staff to Pre-Shale Boom Levels; Cites $3.4B Q2 Loss, $3.7B Impairment
Email
Print 
Bookmark
Schlumberger Ltd. has reduced its workforce to pre-shale boom levels in its latest round of job cuts, according to its Q2 report and call.
This comes after the company posted a $3.4 billion loss for Q2 2020. Additionally, Schlumberger reported an impairment charge of $3.7B for Q2.
The company noted that one out of every five jobs has been eliminated (a total of 21,000 positions) as of the end of 1H20.
Schlumberger's workforce was 105,000 strong at the start of 2020. With the latest cuts, its workforce has shrunk to 85,000 employees in the months since, a decrease of 19%.
US Frac Crews Tracking
Related Categories :
Job Cuts / Downsize / Layoff
More Job Cuts / Downsize / Layoff News
-
Highwood Oil's Credit Facility Reaffirmed; Cuts Jobs, Salaries to Save Capital
-
Ovintiv Cutting Workforce in Calgary, Texas Offices; Field Staff Also Affected
-
Ex-Chesapeake Exec Heads to Laredo Petroleum
-
Murphy Talks Eagle Ford, GOM 2020 Updated Program -
-
Schlumberger Unveils New Strategy: $1.5B in Cost Cuts, Four Divisions
United States News >>>
-
Denbury Inc. Exits Bankruptcy; Eliminates $2.1B in Debt
-
Superior Energy Services Delisted from NYSE; Begins Trading on OTC Market -
-
OPEC Slashes 2020 Oil Demand Estimates Again as COVID Persists
-
Weatherford Gets New CEO; Girish Saligram -
-
Shell Appoints New Non-Executive Director -
