re: Schlumberger announces 9000 job cuts due to low oil prices

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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.

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My thoughts also, so for years you are making record profits...and a few months of low oil prices and now you cannot operate.

quote:

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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.

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i don't think you get how international markets work

oil/gas has low margins but high volume. that's how they get "record profits". with the price of oil falling, they won't drill as much. what do you expect the companies to do with the employees they hired solely to drill oil?