Schlumberger (NYSE: SLB) is planning massive layoffs as the oil company struggles with declining revenue in the second quarter of 2020. The effect of this was amplified late in the quarter by a new battle for market share between the world’s largest oil producers. Halliburton went from $25.48 in … © Provided by InvestorPlace Schlumberger (SLB) … Schlumberger CEO Olivier Le Peuch commented, “Before addressing our 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. 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 … Schlumberger stock went from $50.22 at the end of 2009 to $39.61 at the end of 2019 and stands at $14 currently. Friday, July 24, 2020 Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil … 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). 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 The news comes one day after the company posted record sales. In March, CEO Marc Benioff pledged a 90-day freeze on layoffs. Dec. 17, 2020 at 7:11 p.m. 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. US Congress Set to Approve $900 Billion Stimulus Package. 7 months ago. Schlumberger finds itself in deep trouble financially, but only partially. ... 2020 8:14 am. Engineers Accomplish Earthquake Safety Design. July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM. The company will pay more than $1 billion in severance benefits. It is rumoured around 400 personnel have been earmarked for retrenchment in the Asia-Pacific region, which extends east from Dubai. Dec 22, 2020. U.S. shale oil output growth to slow in 2020 - Schlumberger CEO. Schlumberger said March 24 that it would cut its budget by up to 30 percent, including restructuring, pay cuts and layoffs. 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. Dec 22, 2020. Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Shares of Schlumberger were up … 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. More information: 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 … ET by MarketWatch Automation Schlumberger Ltd. stock rises Thursday, still underperforms market Dec. 17, 2020 at 5:17 p.m. Recent. 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 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 Updated: 5:25 PM CDT July 24, 2020. ET by MarketWatch Automation 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. This double black swan event created simultaneous shocks in oil supply and demand resulting in the m… Updated . Big blue is taking a stance and not budging on pricing. Baker Hughes followed Schlumberger in slashing capital spending. Global News Select Schlumberger Cuts Jobs, Slashes Dividend — WSJ ... 2020). By Simon Webb. Leadership. 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 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. 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. If … (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. Trust is Heart of Workplace Vaccine Discussions. 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. 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 Cuts 11,000 More Jobs as Earnings Fall | IndustryWeek. 19, 2020 12:40 PM ET Schlumberger Limited (SLB) By: Carl Surran , SA News Editor 17 Comments Technology and IIoT. Schlumberger dividend may already factor in black swan event, analyst says Mar. Schlumberger lays off 1,400 amid surgical cuts to restore profitability in U.S. shale. 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