ET by MarketWatch Automation Schlumberger Ltd. stock rises Thursday, still underperforms market Dec. 17, 2020 at 5:17 p.m. 19, 2020 12:40 PM ET Schlumberger Limited (SLB) By: Carl Surran , SA News Editor 17 Comments 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. 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 … It is rumoured around 400 personnel have been earmarked for retrenchment in the Asia-Pacific region, which extends east from Dubai. Schlumberger finds itself in deep trouble financially, but only partially. Baker Hughes followed Schlumberger in slashing capital spending. Leadership. Recent. Schlumberger Cuts 11,000 More Jobs as Earnings Fall | IndustryWeek. July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM. By Simon Webb. Global News Select Schlumberger Cuts Jobs, Slashes Dividend — WSJ ... 2020). Updated . ... 2020 8:14 am. Schlumberger dividend may already factor in black swan event, analyst says Mar. The effect of this was amplified late in the quarter by a new battle for market share between the world’s largest oil producers. Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Schlumberger has reduced its North American workforce by 1,500 people, cut its dividend by 75 percent, and plans to close some facilities to get through an industry downturn fueled by In March, CEO Marc Benioff pledged a 90-day freeze on layoffs. Schlumberger CEO Olivier Le Peuch commented, “Before addressing our (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Schlumberger stock went from $50.22 at the end of 2009 to $39.61 at the end of 2019 and stands at $14 currently. Schlumberger Announces Fourth-Quarter and Full-Year 2020 Results Conference Call Business Wire (Press Release) 15:08 18-Dec-20 Schlumberger, OMV Upstream Ink Contract for AI, Digital Solutions Hart Energy 15:36 17-Dec-20 3 Min Read. Shares of Schlumberger were up … Dec 22, 2020. 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. ET by MarketWatch Automation 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. Schlumberger said March 24 that it would cut its budget by up to 30 percent, including restructuring, pay cuts and layoffs. This double black swan event created simultaneous shocks in oil supply and demand resulting in the m… 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 Engineers Accomplish Earthquake Safety Design. Big blue is taking a stance and not budging on pricing. Commodities News. Friday, July 24, 2020 Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil … 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. Schlumberger (NYSE: SLB) is planning massive layoffs as the oil company struggles with declining revenue in the second quarter of 2020. 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. 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. More information: Trust is Heart of Workplace Vaccine Discussions. Schlumberger lays off 1,400 amid surgical cuts to restore profitability in U.S. shale. 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. Technology and IIoT. 7 months ago. The news comes one day after the company posted record sales. Dec. 17, 2020 at 7:11 p.m. Halliburton went from $25.48 in … © Provided by InvestorPlace Schlumberger (SLB) … 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. 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 … If … Schlumberger moved its Houston-area offices from 5000 Gulf Freeway in Houston to the Sugar Land campus in 1995 (at the northeast corner of U.S. Highway 90A and Gillingham Lane in Sugar Land, Texas). 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 Dec 22, 2020. The company will pay more than $1 billion in severance benefits. 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