(Bloomberg) — Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of Covid-19 could derail the nascent recovery in global energy demand.The second-quarter rout was so bad for Schlumberger that it’s spending $1 billion on job severance in a move that will shrink staffing to an 11-year low. Various restructuring and impairment charges cost it another $2.7 billion, the company said Friday in a statement.“This has probably been the most challenging quarter in past decades,” Chief Executive Officer Olivier Le Peuch said in the statement. “Subsequent waves of …read more
Source:: Yahoo Finance
