OPERATIONS

Schlumberger cuts 21,000 jobs

SCHLUMBERGER will cut 21,000 jobs from its workforce it said in its punishing second quarter results as it follows oilfield service peers Halliburton and Baker Hughes into steep losses as drilling drops and exploration companies put the squeeze on the supplier side.

Helen Clark

North America bears brunt of brutal quarter for Schlumberger

The US shale patch led that decline with North American earnings down 60% for the quarter to $1.2 billion over the same period a year ago. International operations' revenue fell 24% to $4.1 billion...

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