Schlumberger cuts 10,000 jobs
Oil firm Schlumberger have announced that they have cut 10,000 jobs in the last four months.
Oil firm Schlumberger say they have cut 10,000 jobs in the last four months.
The company say they were forced to reduce their world-wide workforce by 25% due to the "uncertain enviroment" in the oil and gas industry.
In 2015, they made a profit of $2.1 billion, thats down 60% on 2014's profits of $3.5 billion.
These results come from Schlumberger's 'Fourth Quarter and Full-Year 2015 Results'.
In a statement, the company said: “In this uncertain environment, we continue to focus on what we can control. Throughout the year we took a number of actions to streamline and resize our organization as we continued to navigate the downturn. We believe we will emerge as a stronger company relative to industry peers and competitors once the price of oil and the market conditions in our industry turnaround.