July 24, 2020

Oil services giant Schlumberger says 21,000 jobs to go

Paris (AFP) – Oil services group Schlumberger expects to lay off more than 21,000 employees — a quarter of staff — it said on Friday, also reporting a $3.4 billion quarterly loss.The Texas-based firm announced a series of charges totalling $3.7 billion, including more than $1.0 billion for severance pay “associated with reducing Schlumberger’s workforce by more than 21,000 employees”. The firm said that the vast majority of the charge is expected to be paid during the second half of 2020.Oil producers have been hit hard by the fall in global crude prices as lockdowns adopted to slow the spre…

source https://this.kiji.is/en/659375759611200609?c=648607265489716321

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