Oil service giant Schlumberger announced Tuesday another round of job cuts, adding to the 20,000 employee positions already eliminated this year.
Yesterday, Schlumberger’s head of operations Patrick Schorn gave a presentation delivering the gloomy results of their third quarter ending in October.
He reiterated low oil prices and a slowdown in drilling are expected to continue to continue into 2016.
On Wednesday the company filed with regulators to announce it will be cutting more jobs however the size, location and timing of the cuts are unclear.
Schlumberger is not alone, as other oil companies are also facing layoffs.
In the first nine months of 2015, Schlumberger, Halliburton, and Baker Hughes have slashed employee headcounts by 46,000, or 18 percent.
