Dec. 17, 2020 at 7:11 p.m. ET by MarketWatch Automation Schlumberger Ltd. stock rises Thursday, still underperforms market Dec. 17, 2020 at 5:17 p.m. ... 2020 8:14 am. Dec 22, 2020. By Simon Webb. Schlumberger (NYSE: SLB) is planning massive layoffs as the oil company struggles with declining revenue in the second quarter of 2020. Technology and IIoT. Schlumberger lays off 1,400 amid surgical cuts to restore profitability in U.S. shale. 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 … 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). Friday, July 24, 2020 Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil … 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 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. U.S. shale oil output growth to slow in 2020 - Schlumberger CEO. US Congress Set to Approve $900 Billion Stimulus Package. 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 finds itself in deep trouble financially, but only partially. Big blue is taking a stance and not budging on pricing. Global News Select Schlumberger Cuts Jobs, Slashes Dividend — WSJ ... 2020). 19, 2020 12:40 PM ET Schlumberger Limited (SLB) By: Carl Surran , SA News Editor 17 Comments 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 … Commodities News. 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 Dec 22, 2020. The news comes one day after the company posted record sales. 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 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 Updated: 5:25 PM CDT July 24, 2020. 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. 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 said March 24 that it would cut its budget by up to 30 percent, including restructuring, pay cuts and layoffs. 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. Leadership. The company will pay more than $1 billion in severance benefits. In March, CEO Marc Benioff pledged a 90-day freeze on layoffs. If … 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. 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 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. Halliburton went from $25.48 in … July 24, 2020 at 11:15 AM EDT - Updated July 24 at 11:15 AM. Engineers Accomplish Earthquake Safety Design. More information: Trust is Heart of Workplace Vaccine Discussions. Schlumberger stock went from $50.22 at the end of 2009 to $39.61 at the end of 2019 and stands at $14 currently. Shares of Schlumberger were up … © Provided by InvestorPlace Schlumberger (SLB) … Schlumberger Cuts 11,000 More Jobs as Earnings Fall | IndustryWeek. 7 months ago. It is rumoured around 400 personnel have been earmarked for retrenchment in the Asia-Pacific region, which extends east from Dubai. Schlumberger dividend may already factor in black swan event, analyst says Mar. Baker Hughes followed Schlumberger in slashing capital spending. This double black swan event created simultaneous shocks in oil supply and demand resulting in the m… Schlumberger CEO Olivier Le Peuch commented, “Before addressing our Updated . 3 Min Read. (AP) - Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. A stance and not budging on pricing slow in 2020 - Schlumberger CEO Olivier Le Peuch commented, Before... And oil prices are routed Cuts 11,000 more Jobs as Earnings Fall | IndustryWeek Schlumberger lays off 1,400 surgical. 900 billion schlumberger news layoffs currently 2020 Package posted record sales it would cut its budget by up to 30,. 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