Oil field service giant Schlumberger on Friday said it plans to cut an undisclosed number of jobs in Houston as the oil crash continues to ravage the industry so vital to the city and Texas.
Schlumberger officials said the economic fallout of the coronavirus pandemic forced the company to speed up a restructuring plan for its shale operations in North America.
Over the past three weeks, Schlumberger cut 125 jobs while closing plants in Moore, Okla., Corpus Christi and the Eagle Ford Shale play.
In a statement, company officials said “much of our operational capacity is unneeded, and some of our facilities are underutilized.”
Schlumberger had 103,000 employees at the beginning of May. Last month, as the company announced its $7.4 billion first-quarter loss, it said