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Schlumberger announces 9000 job cuts due to low oil prices
Posted on 1/15/15 at 7:43 pm
Posted on 1/15/15 at 7:43 pm
quote:
Oilfield services giant Schlumberger plans to cut 9,000 jobs as the global collapse in crude oil prices crimps production in 2015 and perhaps even longer.
The cuts - nearly 8% of Schlumberger's 120,000 workers, were announced Thursday "to better align with anticipated activity levels for 2015,'' the company said.
With production surging and waning growth, the world is awash with oil. That's led to a collapse in prices that's taken benchmark crude price down more than 50% since last June. Thursday, West Texas Intermediate fell 4.6% to $46.22 a barrel, while Brent crude slipped 2% to $47.67. Yet many forecasters say crude isn't close to bottoming.
LINK
Posted on 1/15/15 at 7:43 pm to euphemus
Dont care, i can fill up for under $40 now
Posted on 1/15/15 at 7:45 pm to Cosmo
quote:
Dont care, i can fill up for under $40 now
And you'll spend the money you would have dedicated towards gasoline elsewhere. It will take some time, but increased demand for everything else will open up jobs for these people.
Posted on 1/15/15 at 7:46 pm to euphemus
8% reduction, that is much less than I would have guessed.
Posted on 1/15/15 at 7:46 pm to euphemus
We need to lay so e peeps off in order to make the obscene profits we are accustomed to making. This is the easiest way to do it.
FIFY
FIFY
Posted on 1/15/15 at 7:47 pm to THRILLHO
quote:
but increased demand for everything else will open up jobs for these people.
They can't afford jacked up F2-250s working at WalMart
Posted on 1/15/15 at 7:47 pm to THRILLHO
quote:How did Americans spend the $13 billion they saved on gas?
And you'll spend the money you would have dedicated towards gasoline elsewhere. It will take some time, but increased demand for everything else will open up jobs for these people.
quote:
Those unexpected extra billions didn’t all go to retailers—in fact less a third of the windfall did. U.S. consumers actually used a big chunk to drive more, go to the movies more and eat out more.
quote:
Customer Growth Partners, a retail consulting firm that tracks stores’ sales, dug into the Department of Commerce’s numbers for November and December and estimated that the $13 billion in savings from cheap gas were used in the following manner:
$4.9 billion more was spent on simply using more gas.
$1.8 billion more went to entertainment and services, such as movies, theme parks, content downloads and smartphone subscription/service fees.
$1.3 billion more was spent at restaurants, fast food and bars.
$1 billion more went to things like tobacco, beer, and other “sin” products.
$4 billion more went to the kind of items included in the NRF tally.
Specifically:
Food and beverage stores: $1.5 billion.
Home improvement: $1 billion.
Clothing $1 billion (this is a key category for department stores like J.C. Penney and Macy’s).
Consumer electronics: $500 million.
Posted on 1/15/15 at 7:49 pm to euphemus
Yeah...I'm not even bothering to apply for oilfield services companies right now.
( )
( )
Posted on 1/15/15 at 7:50 pm to When in Rome
Any chance this drives the economy into another recession?
Posted on 1/15/15 at 7:50 pm to THRILLHO
quote:
And you'll spend the money you would have dedicated towards gasoline elsewhere. It will take some time, but increased demand for everything else will open up jobs for these people.
Would rather spend the money I save on gas on amazon, girls and partying
Posted on 1/15/15 at 7:51 pm to SEClint
quote:
Would rather spend the money I save on gas on amazon, girls and partying
You selfish frick. Think about the the people you're putting out a job. SMH
Posted on 1/15/15 at 7:52 pm to When in Rome
Yeah, I think you need to google "Gas Tax"
Posted on 1/15/15 at 7:52 pm to euphemus
quote:
Those unexpected extra billions didn’t all go to retailers—in fact less a third of the windfall did. U.S. consumers actually used a big chunk to drive more, go to the movies more and eat out more.
quote:
Any chance this drives the economy into another recession?
Doesn't look like recession behavior to me...!
Posted on 1/15/15 at 7:53 pm to LSU_postman
quote:
We need to lay so e peeps off in order to make the obscene profits we are accustomed to making. This is the easiest way to do it.
My thoughts also, so for years you are making record profits...and a few months of low oil prices and now you cannot operate.
Posted on 1/15/15 at 7:53 pm to Jet12
I have a hard time feeling sorry about dirt cheap gas.
Posted on 1/15/15 at 7:54 pm to euphemus
no wonder frenchie called it cute when I said I worked for a large corporation at 40k employees
Posted on 1/15/15 at 7:54 pm to Jet12
I would imagine backpage is gonna get a boom in business as well
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