Schlumberger Layoffs Job Cut: fires 5000 employees: Finance Trading Times

Schlumberger Layoffs Job Cut: fires 5000 employees

The news is not good for the employees of Schlumberger Corp, the firm in the business of oilfiled services and it is infact the largest in the world for oilfield services. The recession is taking a toll on all sectors. The latest additon to the list of companies going for layoffs is the Schlumberger. No one seems to be shielded from the effect of recession. It the Schlumberger Company, which have decided to go for the layoff. Schlumberger Layoffs

How many employees will be fired in the Schlumberger layoffs?
There could be around 5000 job cuts by the company.

What is the total number of employee strength for Schlumberger ?
No information is available about the total no. of employees at Schlumberger.

Which location will be affected by the layoffs?
As per the news, jobs will be cut across North America, but no details are there about how many workers will be laid off if Alberta, where Schlumberger employs about 2,000 people.

What is the primary reasons for Schlumberger layoffs?
Declining demand, no fresight of economic revival is the main reason quoted by the company for layoffs.

Any previous layoffs by the company?
No. There are no reports of any previous layoffs.

How much savings is expected due to layoffs by Schlumberger?
No concrete details are available but it is learnt that company is going for all cost cutting measures.

Any other news about Schlumberger layoffs
Schlumberger's net profit for the October-December period was US$1.15 billion, compared with a year-earlier profit of $1.38 billion. Revenue rose to $6.87 billion from $6.25 billion a year earlier.
Let's hope that alternative jobs are available to the affected employees of Schlumberger Layoffs Job Cut
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