EMCC European Monitoring Centre on Change

Schlumberger

Company/Organisation:
Schlumberger

Geographic Location

Country: World

Company

Sector: Mining / quarrying
Mining and quarrying
09.10 - Support activities for petroleum and natural gas extraction
Number Employed: 115000

Employment Effects

Announcement Date: 16-04-2015
Planned Job Reductions min: 11000
Type of Restructuring: Internal restructuring
Employment Effect Start: 16-04-2015

Additional Information

Schlumberger, the world’s largest provider of oilfield services, is to cut an additional 11,000 jobs worldwide. These cuts come in addition to cuts of 9,000 jobs announced in January 2015. This will reduce the company’s workforce by 15 per cent relative to the 4th quarter of 2014. The cuts come in response to falling profits, which the company has blamed on falling crude prices and the resulting decline in extraction activities. Schlumberger employs 115,000 workers in over 85 countries. As of 18 May 2015, there was no information on which countries would be most affected and when the job losses will occur. However, Schlumberger’s announced the reductions in activity would be concentrated in Latin America, Europe, Sub-Saharan Africa, and Asia.