Schlumberger Cuts 9,000 Jobs as Oil Slump Brings Uncertainty
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Schlumberger Ltd., the world’s biggest oilfield-services company, tackled the “uncertain environment” of plummeting crude prices head-on by cutting about 9,000 jobs and reducing costs.
Anticipating lower spending by customers this year, Schlumberger is decreasing its workforce by 7.1 percent and seeking to lower operating costs at a unit that helps producers find oil and natural gas, the Houston- and Paris-based company said in an earnings report Thursday.