Technology and IIoT. July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM. Recent. More information: Oilfield service giant Schlumberger grew its global headcount in 2019 despite finishing the year with a $10.1 billion loss and laying off 1,400 workers in the United States. Schlumberger CEO Olivier Le Peuch commented, “Before addressing our In March, CEO Marc Benioff pledged a 90-day freeze on layoffs. Global News Select Schlumberger Cuts Jobs, Slashes Dividend — WSJ ... 2020). The company will pay more than $1 billion in severance benefits. US Congress Set to Approve $900 Billion Stimulus Package. Schlumberger (NYSE: SLB) is planning massive layoffs as the oil company struggles with declining revenue in the second quarter of 2020. Halliburton went from $25.48 in … At its first-quarter earnings call on April 17, 2020, the company also said it would cut its capital spending plan by 30% and research and development spending by … Schlumberger last week said it would reduce its 2020 capital spending budget by 30% due to the price crash, joining a host of major energy companies that have slashed spending amid the twin supply and demand shock. Schlumberger finds itself in deep trouble financially, but only partially. Source: Schlumberger, the largest oil field services company, said Friday it lost $10.1 billion in 2019, laid off 1,400 workers in the fourth quarter, closed facilities, pulled hydraulic fracturing fleets from the field and plans to sell assets. Dec 22, 2020. 3 Min Read. Commodities News. Schlumberger CEO Olivier Le Peuch commented, “First-quarter revenue of $7.5 billion declined 9% sequentially and 5% year-on-year as the unprecedented global health and economic crisis sparked by the COVID-19 pandemic increasingly impacted industry activity during the quarter. The news comes one day after the company posted record sales. JULY 24, 2020 — 21,000+IMPACTED BY RESTRUCTURING ACTIVITIES More than 21,000 workers are facing layoffs as Schlumberger restructures to survive the global oil and gas industry depression and response to the COVID-19 pandemic. Talk at this year's West Australian Basins Symposium has centred around the absence of some key Schlumberger personnel, amid rumours of a 1200 person layoff at the oilfield services giant. Engineers Accomplish Earthquake Safety Design. Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in the world, plans to cut up to 30 percent from its budget amid … © Provided by InvestorPlace Schlumberger (SLB) … Updated: 5:25 PM CDT July 24, 2020. Schlumberger lays off 1,400 amid surgical cuts to restore profitability in U.S. shale. Trust is Heart of Workplace Vaccine Discussions. ... 2020 8:14 am. ET by MarketWatch Automation Friday, July 24, 2020 Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil … Daily Job Cuts / Layoffs - Your source for daily economy updates on recent Job Layoffs 2020 / 2019 , Job Losses, Layoff News, Store Closings 2020, Bankruptcy, Business and Economic News July 24, 2020 at 10:15 AM CDT - Updated July 24 at 10:15 AM (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Dec. 17, 2020 at 7:11 p.m. Schlumberger last week said it would reduce its 2020 capital spending budget by 30% due to the price crash, joining a host of major energy companies that have slashed spending amid the … Oil-services companies Halliburton and Schlumberger have been rallying this month as countries around the world have moved to coordinate production cuts to push crude prices higher. U.S. shale oil output growth to slow in 2020 - Schlumberger CEO. Dec 22, 2020. July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and o Leadership. 7 months ago. Big blue is taking a stance and not budging on pricing. Schlumberger stock went from $50.22 at the end of 2009 to $39.61 at the end of 2019 and stands at $14 currently. The effect of this was amplified late in the quarter by a new battle for market share between the world’s largest oil producers. 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