Schlumberger Cuts Another 10,000 Jobs as Crude Rout Deepens

Schlumberger Cuts Another 10,000 Jobs as Crude Rout Deepens

Schlumberger Ltd. cut another 10,000 jobs to cope with a crude market collapse that's forced its customers to slash spending for two consecutive years.br The world's largest oilfield service provider reported a loss of $1.02 billion, or 81 cents a share, compared to profit of $302 million, or 23 cents, a year earlier, the Houston- and Paris-based company said in a statement Thursday.br Schlumberger, which has fallen 44 percent since the downturn began 19 months ago, will launch a new $10 billion stock buyback program as its current repurchase plan of the same amount wraps up.


User: Wibbitz Top Stories

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Uploaded: 2016-01-22

Duration: 00:48

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