Oilfield Services Giant Schlumberger Cuts More Jobs

Oilfield services giant Schlumberger Ltd. continues to cut jobs as the company grapples with the effects of the oil and gas industry downturn.

“Although we seem to have reached the bottom of rig activity, our customers are still very cautious about their capital investment plans. Based on the current outlook, we have taken the difficult step to further reduce our workforce in line with activity and investments,” Schlumberger spokesperson Susan Ganz said in an emailed statement to Rigzone.

Though the spokesperson declined to provide specifics related to number, geographic region or location details of the layoffs, a source with no affiliation to the company communicated to Rigzone that layoffs occurred recently at a Houston location on 3750 Briarpark Drive.

The industry downturn, which began in late 2014, has been the cause for hundreds of thousands of layoffs around the globe. U.S. oilfield services firms Schlumberger, Halliburton and Baker Hughes have suffered tremendously from several personnel cuts and a lowered rig count due to declining drilling activity.    

In 2015, Schlumberger cut more than 20,000 jobs, about 15 percent of its workforce, and layoffs continued into 2016. According to its 3Q 2016 earnings statement, Schlumberger employs about 100,000 people.

Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at valerie.jones@rigzone.com

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Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Ian | Dec. 16, 2016
After over 40 years in the business, personally, I cant see any improvement in the oil patch till the price of crude gets to at least $75/$80 a barrel, even then recovery will be slow ..... I hope Im wrong but I dont think so


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