Schlumberger discloses additional job cuts, CEO says cycle reached bottom

In a report released last July 21, the job cuts for Schlumberger Ltd. has reached an all-time high of 16,000 for the first half of 2016. The company has been streamlining several sections of its company and engaging into new investments that would assist in improving its performance. The company’s net loss has already reached to $2.16 billion, but the net income remains high by up to $316 million. The CEO of the company believe that the oil industry is in the end of its downturn as companies are now shifting their initiatives to revitalize their operations for better financial options.  Schlumberger has a Houston office located at 300 Schlumberger Dr in Sugar Land Tx

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