Schlumberger cuts 21,000 jobs after ‘the most challenging quarter in past decades’

Giant oilfield services provider Schlumberger is cutting around 21,000 jobs as a response to one of the most challenging quarters in over a decade affected by the coronavirus pandemic and the oil price crisis.

In its quarterly report released last Friday, Schlumberger said it would pay over $1 billion in severance to the 21,000 employees affected by this decision.

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