Leaked documents reveal Schlumberger furloughed staff and cut wages as it faces a historic oil price meltdown
Kirk McKoy/Los Angeles Times via Getty Imagesand start reading now.
In a letter sent to all North American employees that was obtained by Business Insider, the company said it was implementing two furlough programs for its North American staff starting on April 12. Schlumberger is cutting pay for some workers, as well, according to another letter that Business Insider reviewed.
The Houston-based company — which sells technology and services for oil production and exploration — is not alone in takingNearly all major oil and gas companies have slashed spending for the year, many have cut staff, and several have axed their prized dividend payments, including the supermajorHave you been laid off or furloughed in the oil and gas industry? Please reach out to this reporter atThe Schlumberger memo reveals that in one furlough program — which the company calls involuntary —...
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