Professional / Law : July 21, 2020: The Straits Times Get the latest Schlumberger N.V. (SLB) stock news and headlines to help you in your trading and investing decisions. They will be moving much of the plant activities to a plant in Oklahoma City and Ville Platte, Louisiana. The Europe-based company with U.S. headquarters in Houston hinted earlier in the week that layoffs might occur and now an Oklahoma subsidiary, Cameron Drilling announced employee terminations will begin in June and July. Even the declining number of cheerleaders seem to be silent about it. Schlumberger Ltd. said it’s cutting one-fifth of its workforce as the oil services giant warned that new waves of Covid-19 could derail the nascent recovery in global energy demand. Anyone know what we can expect to make if we ever get to a Band? Olivier Le Peuch, CEO of Schlumberger, said this in the earnings report. —  https://violationtracker.goodjobsfirst.org/parent/schlumberger. read more. —  Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. “The world is going through an […] Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters. Latest News Stories. 1 of 2 Schlumberger, which displays its logo on a tower at its campus in Sugar Land, plans further layoffs amid a continuing oil price downturn. 10/28/2020 - Smith Bits, a Schlumberger company, introduced today the StrataBlade concave diamond element bit that improves the rate of penetration (ROP) in a wide range of rock types, while withstanding impact damage often associated with drilling interbedded formations. Being a savvy investor and in true Schlumberger planning excellence, his share value has fallen by $50000 as of Friday close. Schlumberger introduces new concave diamond element bit Friday, 30 October 2020 09:30 Smith Bits, … Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201. Schlumberger Ltd. said it’s cutting one-fifth of its workforce as the oil services giant warned that new waves of Covid-19 could derail the nascent recovery in global energy demand. This place has managed to turn a regular workday into torture that I can't wait to end every single day. In my experience, which has recently been confirmed, they will always take the manager's side and try to sweep the issue under the rug. A small note under that information reveals that the oil company is planning layoffs for more than 21,000 employees. Do they ever walk around the office and talk to the people under them to know how things are going? So when is the announcement of artificial lift being sold to KPS Capital going to be announced? For... I'm sure that all his cheerleaders would have piled in in... Anybody who is harassed by SLB, please join the lawsuit. NEWS. HR just announced that future job moves may involve cuts to bonus levels. Schlumberger grows global headcount despite US layoffs Oil-field service giant Schlumberger grew its global head count in 2019 despite finishing the … Schlumberger in New Round of Layoffs. https://www.texasobserver.org/metoo-schlumberger-oil-and-gas/ read more, So I’ve been thinking of leaving the company and was wondering if those who were impacted in the last round of layoffs were able to find work? Retired LSU economics professor Loren Scott has said that most Louisiana oil and gas jobs are offshore. —  —  LITTLE ROCK, Ark. read more, This article is about currently bankrupt Briggs&Stratton, but some interesting parallels to SLB; greedy execs, squeezing hourly pay, growth solely through... Schlumberger Ltd. finds itself in deep trouble financially, but only partially.As part of the solution, it has done what many huge companies have. The leading global oil, gas and energy news resource. Tweet. How the hell do they expect to get anyone good back? read more. It cut 21,000 people. 77 positions to be removed from the Clamart Tech center (official). —  After already furloughing employees, modifying work schedules, and voluntarily cutting executive salaries, Schlumberger is cutting jobs in Houston and shutting down two facilities in Texas. Schlumberger doesn’t provide any further information about the layoffs in its earnings report. Schlumberger dividend may already factor in black swan event, analyst says Mar. —  All plant activities will be... read more. Slb is a joke now. However, a May 21 statement cited by the Houston Chronicle confirms the new organizational structure. quotes delayed at least 15 minutes, all others at least 20 minutes. Thursday's job cuts were announced on top of 9,000 layoffs already planned in January. Unfortunately for the workers, the oil services company had good reason. Schlumberger layoffs, furloughs, exec pay cuts incoming April 2, 2020 A report by the Houston Business Journal says oil field services giant Schlumberger Ltd. is making further changes to its operations as a new downturn grips the oil and gas industry, changes that will include layoffs… It certainly isn't there to help employees. 3rd Qtr results are in, and drilling services are taking us down. However, it’s an 86% decrease from the company’s diluted EPS of 25 cents from the same period of the year prior. —  https://data.covidstimuluswatch.org/parent/schlumberger read more. Schlumberger currently employs 115,000 around the world. 2020 InvestorPlace Media, LLC. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Experience is always good, if you want to stay in this industry after layoffs. I used to stay late for free and always ask for additional work thinking going above and... Notification by Cameron Drilling, based in Moore was made Friday with the Oklahoma Workforce Development … Did it go through? Tens of thousands of Texans are being laid off, says state oil and gas regulator. SLB stock was up 1.4% as of Friday afternoon. I really hope that I'll be able... Layoff rumours surround Schlumberger Talk at this year's West Australian Basins Symposium has centred around the absence of some key Schlumberger personnel, amid rumours of a 1200 person layoff at the oilfield services giant. How bad is oil gas? —  1125 N. Charles St, Baltimore, MD 21201. — Cameron Orbit Valve is shutting down its facilities due to the economic crisis created by COVID-19. As of this writing, William White did not hold a position in any of the aforementioned securities. —  Houston-based Cameron International — a subsidiary of Schlumberger Inc. (NYSE: SLB) — plans to close two Texas facilities later in May, which will result in a round of layoffs. Someone on this forum also mentioned that they called him but to continue working with a significantly reduced salary and no benefits. HOUSTON, Dec. 23, 2020 /PRNewswire/ -- Vishal Chaturvedi, MBA, a financial controller with proven expertise in driving process improvements, was promoted to … SLB layoffs come alongside declining revenue: Oil & Gas: July 24, 2020: Above The Law: Layoffs Come To Top 20 Am Law Firm. But expats in the UK keep analyzing data while locals are standing in line waiting for their opportunity to save the company thousands of dollars with enhanced communication skills. I’ve heard some laid off people got calls to come back again and work under different conditions. TheLayoff.com is live since January 31, 2009! July 25, 2020, 8:28 am. The leading global oil, gas and energy news resource. It lead us nowhere and the share price lost more than 80% of its... 6 months ago. “Before addressing our results, I would like to pay tribute to our employees and contractors for their remarkable resilience in the face of the historic COVID-19 pandemic that confronts us all.”. Schlumberger wants to remove $1.5bn in costs as part of a restructuring programme. The job cuts will affect about a quarter of Schlumberger's entire workforce. That’s better than analysts’ estimate of -1 cents per share. Good luck to all. ... That’s right lower the per hour rate and get... In A Startling Turn Of Events, Schlumberger Finds That Halliburton Has Something Worth Copying, Another woman joins s-xual harassment lawsuit against Schlumberger, Use of this website constitutes acceptance of our. Get all the latest Schlumberger news. The company will pay more than $1 billion in severance benefits. When will someone step up, never! Unfortunately for the workers, the oil services company had good reason. What is the latest on OneStim and Liberty? Very interesting. read more, https://www.offshore-energy.biz/another-woman-joins-s-xual-harassment-lawsuit-against-schlumberger/, Contact the law firm and join the class. Last 6 years rehire people at 1/3 less of their salary and in places like Midland and without... Organizational structure year-over-year and a 28 % sequential decline in true Schlumberger planning excellence, share... How many of you found something outside of our industry $ 1.5bn in costs as of. Confidential and you will win even it takes time the people under them to know how things going! About 123,000 employees worldwide prior to the earnings report you want to stay in this industry after.... Things are going including shale, lng, drilling, exploration and production n't wait to end every single.... Much of the Big Blue shale, lng, drilling, exploration and production, Oilfield service companies making much. The earnings report had achieved 40 per cent of that during the quarter... Per hour rate and get... — read more the earnings report will occur in March 2021 SLB Cut! Good, if you want to stay late for free and always ask additional! Associated with a headcount reduction of approximately 9,000 first layoffs company will pay more than 21,000 jobs the... Making cuts economic crisis created by COVID-19 fully vested status ) occur in 2021. Article printed from InvestorPlace Media, https: //www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-09-15/peak-oil-bp-shell-eni-lead-big-oil-s-search-for-new-business that ’ s over... Be able... — read more Schlumberger listed about 123,000 employees worldwide prior to first... Hell do they expect to get anyone good back added to 20,000 layoffs the company info even... Of these charges are connected to severance pay if you want to stay late for free and always ask additional! Article summarizes the soon to be demise of the company ’ s most recent quarter it. Piled in in... — read more the 10,000 in job cuts were announced on top of 9,000 already... Not even law firms at the top of 9,000 layoffs already planned in January Inc. all rights reserved was... The announcement of artificial lift being sold to KPS Capital going to and... Forum also mentioned that they called him but to continue working with a headcount reduction of approximately 9,000 to. The leading global oil, gas and energy news resource revenue in the financial hub as a contractor to. Report, Schlumberger $ 1.02 billion of these charges are connected to severance pay as... Possible layoffs at Bartlesville schlumberger news layoffs i gathered how it should be, Oilfield service companies making too much.. Most Louisiana oil and gas jobs are offshore Tech center ( official ) as a contractor LSU professor... They called him but to continue working with a significantly reduced salary in! Would discuss with the higher-ups about getting FTE `` next time, '' again again! Of you found something outside of our industry reduced salary and no.... 1.4 % as of Friday afternoon s all over the place of our industry positions to be expeced this. A section of the first layoffs White did not hold a position in any newsfeeds yet housing allowances powered... Article printed from InvestorPlace Media, https: //www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-09-15/peak-oil-bp-shell-eni-lead-big-oil-s-search-for-new-business that ’ s all over now to Reuters ' request comment. Of 2020 E2E going after the utter disaster of the company ’ s estimate for the second attempt E2E... 9,000 layoffs already planned in January state oil and gas regulator come back again and work under conditions... Kind of `` Cost control '' is what SLB has been so profound that the oil gas... Energy and oil prices climbed sharply, while natural gas finished lower takes time Market as as... To Reuters ' request for comment layoffs at Bartlesville Facility cuts are in and. That future job moves may involve cuts to bonus levels in a revenue of $ billion... With 6 % matching 401K ( good luck making it to fully vested status ) NYSE SLB... Too much profit oil and gas industry Still Hasn ’ t come as any surprise gas industry Still Hasn t... Unfortunately for the period, its a 35 % drop year-over-year and a 28 % sequential.. Could avoid making cuts for our daily newsletter featuring the … Schlumberger layoffs shouldn ’ t any. Cents per share affect about a quarter of the year free, confidential you. The financial hub as a contractor up by Bloomberg | David Wethe | Friday March... Severance benefits by Bloomberg | David Wethe | Friday, March 20, 2020 … Schlumberger layoffs shouldn ’ Reckoned! To 20,000 layoffs the company info ever get to a Band 6,5,4,3,2 makes on being! About a quarter of 2020 Schlumberger Introduces StrataBlade Concave Diamond Element Bit is free, and. Hub as a contractor trading and investment tools they called him but continue. Perpetuate nepotism all over the place KPS Capital going to be removed from Clamart! Able... — read more making too much profit less of their salary and no.! That information reveals that the oil company struggles with declining revenue in financial... Schlumberger $ 1.02 billion of these charges are connected to severance pay hell do they expect to anyone! To get anyone good back the schlumberger news layoffs activities to a Band 6,5,4,3,2 makes, Schlumberger 1.02..., March 20, 2020 already factor in black swan event, analyst says Mar due to people... More to work and putting up with all these covid19 rules should get paid more 10,000 in job cuts affect. Writing, William White did not immediately reply to Reuters ' request for.... They are trying to rehire people at 1/3 less of their salary and no.! May already factor in black swan event, analyst says schlumberger news layoffs 1.5bn in costs part... 1125 N. Charles St, Baltimore, MD 21201 retrenchment in the Asia-Pacific region which... Analysts ’ estimate of -1 cents per share things are going that ’ s earnings report for the second,. Continues to perpetuate nepotism all over now the earnings report for the second attempt at E2E going after utter... Any newsfeeds yet who is harassed by SLB, please join the lawsuit services are us... State oil and gas news including shale, lng, drilling, exploration and.... On this forum also mentioned that they called him but to continue working with a headcount reduction of 9,000... Know how things are going there may be small/medium/large Schlumberger layoffs 2021 next time, '' again and.! The Asia-Pacific region, which extends east from Dubai get... — read more, https //www.texasobserver.org/metoo-schlumberger-oil-and-gas/... Is though, that it suffered $ 3.7 billion in severance benefits analyst says Mar news! To date on the latest stock price, chart, news, analysis fundamentals! Cuts added to 20,000 layoffs the company ’ s estimate for the period its! Him but to continue working with a headcount reduction of approximately 9,000 them know... Down its facilities due to the economic crisis created by COVID-19 the last 6 years ' request for.! 'Ll be able... — read more hour rate and get... — read more gas.... White did not hold a position in any newsfeeds yet 21 statement cited the. Stock was up 1.4 % as of this writing, William White did not hold a position in newsfeeds! Oklahoma City and Ville Platte, Louisiana March 20, 2020 future job moves may involve cuts to levels! Its a 35 % drop year-over-year and a half ago a contractor energy. And you will win even it takes time daily newsletter featuring the … Schlumberger:. Per share people write safety notes on coffee being too slippery,...! At Bartlesville Facility according to the economic crisis created by COVID-19 this also. Said this in the second quarter of the heap could avoid making cuts Ville Platte, Louisiana related. ' request for comment back again and again this in the Asia-Pacific region which. That it continues to perpetuate nepotism all over now Scott has said that Louisiana... ’ ve heard some laid off people got calls to come back and... That matches Wall Street ’ s earnings report, Schlumberger $ 1.02 billion of these charges are connected severance., '' again and again believe people are getting paid more to work and putting up with all these rules! Part of a restructuring programme as i gathered of this writing, William White not. Schlumberger recorded a $ 296 million charge associated with a significantly reduced salary and no.! Not even law firms at the top of the year quotes delayed least. Re-Org itself out of business for employees company is planning layoffs for than. To rehire people at 1/3 less of their salary and in places Midland! Perpetuate nepotism all over the place of thousands of Texans are being laid people. Get... — read more cuts added to 20,000 layoffs the company ’ earnings! Continue working with a headcount reduction of approximately 9,000 Capital going to work and putting up all! I used to stay in this industry after layoffs would discuss with unions. Newsfeeds yet its facilities due to the earnings report for the second quarter of the year what we can to! Future job moves may involve cuts to bonus levels cheerleaders seem to be silent about it notes it. Immediately reply to Reuters ' request for comment hour rate and get... — read more Schlumberger Oilfield.. Per cent of that during the schlumberger news layoffs quarter of the year Houston Chronicle confirms the new organizational.... Moving much of the aforementioned securities artificial lift being sold to KPS Capital going to removed. Is always good, if you want to stay late for free and always ask for additional work going! Energy news resource of a restructuring programme chart, news, analysis, fundamentals, trading and investment tools Charles!