Schlumberger to cut more jobs, book $350M restructuring charge
Dec 1 2015, 13:25 ET | About: Schlumberger Limited (SLB) | By: Carl Surran, SA News Editor
Schlumberger (SLB +0.6%) discloses plans to further reduce its workforce and streamline its support structure in light of expected reduced activity for 2016.
As a result, SLB says it expects to record a Q4 pre-tax restructuring charge of ~$350M.
The filing does not specify how many jobs could be on the line; SLB already has cut nearly 10K jobs this year in response to lower oil prices.