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Schlumberger Q1 2016; Revenues Down; International Hold Up
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Schlumberger Limited has reported results for the first quarter of 2016.
In response to the bad first quarter, the company has annouced during its investor call that it plans to cut a total of 8,000 jobs. This would add to the total of jobs now eliminated by Schlumbger to be 42,000 since the downturn began.
Schlumberger’s worldwide head count only decreased from 95,000 to about 93,000 — as low as 92,500 now — but the company reclassified 5,500 contractors as permanent employees, so the overall reduction was 8,000 employees, Kibsgaard clarified today.
Highlights On March 24, 2016, Schlumberger announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole metal-to-metal isolation solutions in well…- ✓ Full news archive — U.S., Canada & international coverage
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