A wise man said “the company would resize its North American onshore operations, which had grown under Kibsgaard... Schlumberger will exit unprofitable businesses... We are setting an ambition to more than double the contribution of our digital businesses within the foreseeable future.”
A wise man meant “we no longer need b—s— in North Am. BS is costing us a lot. Cut on all the useless layers of management, all the BS projects with no foreseeable return, Schlumberger can no longer afford to pay you because you are the friend of a friend of a friend of someone. The future is digital...”
One hiccup, there is no mention to the one or two top down layers of digital that are somewhat useless...
The stock went up 4% after this was announced.
public news: https://www.reuters.com/article/2019/09/04/us-schlumberger-outlook-idUSKCN1VP2I1?utm_source=applenews