Schlumberger to cut 9,000 jobs on oil-price plunge

Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs in response to a continuing fall in oil prices.
The company took an already announced $1 billion charge in the fourth quarter related to the job cuts and trimming of its seismic business.
Schlumberger's customers—oil producers—have slashed capital budgets and reduced the number of rigs amid a nearly 60 percent slump in oil prices over the past six months.

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