Thread regarding Schlumberger Ltd. layoffs

Schlumberger Layoffs 2025

If the economy turns around, do you anticipate any Schlumberger layoffs? Any chatter, news or rumors?

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| 10588 views | | 41 replies (last 1 hour ago)
Post ID: @OP+1voTrdPb

41 replies (most recent on top)

I saw something about a new role such as Tech delivery manager G14 that will replace what 6 people is doing today in the geo unit, PSC, TLM, OI etc. Beyond that everything is possible

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Post ID: @cxm+1voTrdPb

When talking about 25% Management Cuts, do you know at what 'level' of management that is?
Is it in HQ, Divisions / Business Lines, GeoUnits?

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Post ID: @cx1+1voTrdPb

"As for 20-25% management....I'll believe that when I see it. They'd have to combine a significant number of positions to get there."

Yes that is the plan with some areas having as many as 3 or even 4 managers combined into 1.

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Post ID: @csw+1voTrdPb

That seems almost reasonable. 5%, heck, even 7-10%, seems like we can find in lower performing locations/roles. Especially given the increases over the last few years. 30% always seemed ridiculously big.

As for 20-25% management....I'll believe that when I see it. They'd have to combine a significant number of positions to get there.

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Post ID: @cq7+1voTrdPb

From what I can tell the 30% cuts is 20-25% of management over next few years. Seems like in most areas field employees are mostly fine. Some small cuts there mostly due to any excess of people (~5%)

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Post ID: @cpw+1voTrdPb

Hearing HQs are the target of not already hit

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Post ID: @cpt+1voTrdPb

Seems like they are moving rather quickly now. I know NAO was hit hard this week and some other systems as well. Mostly seems to be any remaining “fat” but they have moved into management.

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Post ID: @cp8+1voTrdPb

Thanks for the info...
Does anyone know when to expect the cuts and in what locations and Business Lines?
Or is this really across the board?

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Post ID: @chg+1voTrdPb

30% cut on the way

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Post ID: @cdw+1voTrdPb

Will tariffs interfere the BallValve business with part’s coming from China?

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Post ID: @bzh+1voTrdPb

The coffee shop gos is that Friday (tomorrow) is when we will have some more clarity.

One Basin (Division) HQ presented the proposed structure and timelines a couple of weeks back to its HQ team.

Why? I’ve no idea considering nothing has been rolled out and hence everything is still fluid. So no point in sharing.

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Post ID: @az8+1voTrdPb

Yes we all know that lists are being prepared by each manager and submitted to HR while Comp and Ben is cranking out the severance packages. It will go on for while and we shouldn’t expect any official announcements beyond the regular Northstar and enablement cost reductions that we have heard during 2024. Some structural changes will be communicated at some point but not linked to any HC reductions, like today when we saw that Subsea is moved under core…

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Post ID: @9x3+1voTrdPb

SLB layoff people every day. So, if you are still working there just be ready!

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Post ID: @9x2+1voTrdPb

Yes, more layoffs are happening right now, just today 357 people were fired in all areas across the company, even senior positions.

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Post ID: @9rc+1voTrdPb

Personally, I reckon once the ChampionX acquisition is confirmed. Doesn’t make sense to restructure twice.

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Post ID: @9mk+1voTrdPb

Digital and SEES has already had a few layoffs. As we get closer to the earnings call I'd expect to see a ramp up.

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Post ID: @96h+1voTrdPb

Are D&I or digital affected?

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Post ID: @92x+1voTrdPb

What’s changes

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Post ID: @8y7+1voTrdPb

When we will know the changes? After earnings call?

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Post ID: @8x6+1voTrdPb

“ So the thought is this company is going to cut close to 35000 jobs in a flat market in one go?”

The market dynamics have shifted. Less need for labor intensive services such as drilling. Read industry news. Read the Hub. Listen to OLP. Operators are shifting to maintaining production through technologies such as those provided by AI, Digital and dare I say it “ChampionX” provided products.

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Post ID: @Kwjk+1voTrdPb

Don’t feel sorry for the VP’s and up. They’re all RSU minted and will be just fine.

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Post ID: @Kybh+1voTrdPb

So the thought is this company is going to cut close to 35000 jobs in a flat market in one go?

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Post ID: @Gryh+1voTrdPb

Yes that is what I’m hearing as well. The VP’s has started to receive LOA’s as of yesterday and clearly some major changes at that level with new names. In order to achieve the 30% reduction it has to start at the top level so quite a few VP’s won’t receive an LOA then…and after that it will work its way downwards

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Post ID: @Govu+1voTrdPb

It’s coming. With Basins going leaving us with just hemispheres, merging of two Divisions, consolidation of several functions, merging of GU’s and the natural industry move from drilling to maintaining production rates due to oil price and inventory levels, a number of 30% is foreseeable.

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Post ID: @Fkwy+1voTrdPb

30% would be larger layoff than the last two MAJOR oil price crashes and right around COVID levels. There is no way with a flat market they layoff 30%. 10% would be brutal enough.

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Post ID: @zhvb+1voTrdPb

Not confirmed but likely NAO and GTC for starters

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Post ID: @zqox+1voTrdPb

Well considering that Slb has added some 30K people over the last years as topline has been growing, I’m sure the market expects a deep cut to manage the flatter market.

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Post ID: @zzsq+1voTrdPb

30% seems too aggressive given flat-ish activity. Someone mentioned 3% and I saw another post at 10%, those seems reasonable. Which GUs are being consolidated?

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Post ID: @zomz+1voTrdPb

Well as the leadership is meeting in London this week the official announcement may come tomorrow Friday…I don’t know but I just assume there would be some kind of internal and external communication

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Post ID: @yylo+1voTrdPb

When?

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Post ID: @yipo+1voTrdPb

Well, whoever said “30%”, he/she has good inside information.

VP’s were told today.

Lots of big g-ns are out.

Consolidation of geographies, and functions.

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Post ID: @yeen+1voTrdPb

“ Layoffs are not happening tomorrow. Just an announcement”

Nothing to see here…

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Post ID: @yagu+1voTrdPb

Layoffs are not happening tomorrow. Just an announcement.

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Post ID: @xixe+1voTrdPb

London calling

November head count number minus 3%. This should have been done by now.

Re-org: First draft was rejected by the board. White paper on those details was found on printers. Comment shared “looks bad to investors. They will wonder ‘do you know what you are doing with constant re-orgs’ ”

Draft 2 was accepted but details are not known below the highest echelons. Even BL VP’s are in the dark or so they say.

Only real detail / rumour is that GM’s / Geographies will be consolidated and hence HC will be reduced through merging of positions / centralization of roles.

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Post ID: @xjkw+1voTrdPb

You mean the announcement will come from Sugarland on Thursday?

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Post ID: @xqor+1voTrdPb

I heard it's Thursday in Sugarland.

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Post ID: @vmov+1voTrdPb

Layoffs are coming — Digital brace yourself. Houston? E2E?

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Post ID: @udlk+1voTrdPb

Will younger or older workers get affected the most?

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Post ID: @tcln+1voTrdPb

Yes I heard the announcement will be next week and it’s more like a 30% reduction of the total workforce through centralization. The company has added a lot of people throughout the up cycle in order to drive revenue growth. Now when market is plateauing overall and even declining in many areas, the workforce needs to reduce as it’s less effort to sustain revenue. It’s also a matter of following competition which is way ahead of Slb in this regard. Will this reorganization keep the stock up?

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Post ID: @tshr+1voTrdPb

Big reorganization to be announced next week( 2nd week of December). 10% HC reduction confirmed across the board even for RP. Some cuts will start before the end of the year and will continue until Q1 2025

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Post ID: @rvla+1voTrdPb

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