Job Cuts News

 

Schlumberger to raise $6 billion for merger

Dec 15, 2015

Houston-based Schlumberger will issue five tranches of senior notes worth US$6 billion to help fund its pending $14.8 billion mega merger with Cameron International. Image from Schlumberger. Last week on 10 December…

Shell, BG to shed 2800 jobs as merger clears

Dec 14, 2015

Shell has cleared the final regulatory approval for its US$70 billion acquisition of BG Group, after receiving 'unconditional merger clearance' from the Chinese Ministry of Commerce (MOFCOM). This approval from China is the final regulatory…

Schlumberger set for Q4 job cuts, Cameron merger

Dec 02, 2015

Schlumberger has decided to “right size” its organization with another round of job cuts this quarter that will see the oil services giant incur an estimated restructuring charge of about US$350 million. Schorn…

US clears Schlumberger, Cameron merger

Nov 18, 2015

The US Department of Justice (DOJ) has cleared the proposed multi-billion dollar merger between Schlumberger and Cameron International without any conditions, both companies announced in a joint statement on Wednesday (18 November). The…

More job cuts to come

Oct 21, 2015

The big four oil services companies released their 3Q 2015 reports this week and the news is a sign that things are not improving in the sector, and in particular in North America. However, globally, thousands more job cuts are expected. Halliburton…

Aker to lay axe on 500 subsea jobs

Sep 01, 2015

Aker Solutions is set to cut 500 permanent positions in its Norwegian subsea business that the company is attributing to the continued slowdown of the market, adding to the nearly 200 job reductions the company announced earlier this year…

Archer chops 700 from workforce

Aug 03, 2015

UK-based drilling specialist Archer reported a 22.5% drop in 2Q 2015 that will lead to cutting 700 jobs in its global workforce. Image from Archer.  Revenue for 2Q was US$388…

Chevron to cut 1500 jobs globally

Jul 29, 2015

US-based Chevron is cutting 1500 employees in its attempt to slash costs by US$1 billion, with Houston employees getting the majority of the job cuts. Chevron's Big Foot has seen delays this quarter…

Wärtsilä realigns, cuts staff

Jul 17, 2015

The weak oil market is causing a restructuring at Wärtsilä’s Ship Power business that will result in rebranding the company and a loss of 600 jobs that will ultimately save Wärtsilä approximately US$43 million (EUR 40 million) annually. Image…

Statoil, EMGS announce cuts

Jun 16, 2015

More woes for the Norwegian oil and gas industry as Statoil announced it would cut potentially 1100-1500 permanent positions and 525 consultants by the end of 2016. 'We regret the need for further reductions, but the improvements are…

More job cuts expected from Aker, FMC

Jun 11, 2015

Another round of job cuts are on the way as Aker Solutions and FMC Technologies move to reduce their workforces in Norway. Norwegian-based Aker Solutions said on Thursday (11 June) that it notified employees at its subsea services center in Agotnes…

McDermott cuts nearly 1700 jobs

May 13, 2015

Houston-headquartered engineering firm McDermott has made nearly 1700 job cuts following a review of the company's cost structure. The firm says 475 were cut up to March, through organizational efficiencies, which have helped save some US$27…

Drop in spending means shrinking backlogs

Apr 29, 2015

Oilfield services companies are putting a brave face on the continuing market downturn, despite some reporting shrinking order books.  Subsea 7 and Fugro reported shrinking order books in their 1Q results this morning.  Subsea 7’s…

North American job cuts mount

Apr 24, 2015

International oilfield services firm Weatherford will cut another 2000 jobs from its workforce, taking the total number of planned job cuts to 10,000. Weatherford’s move follows Schlumberger announcing last week a further 11,000 job cuts…

SBM to cut 1200 jobs

Dec 11, 2014

Floating production and mooring specialists SBM Offshore is cutting 1200 jobs and relocating its headquarters from Monaco to Amsterdam, the firm announced this morning.  SBM said: 'In light of market conditions and in order to optimize the company's cost base…

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