Weatherford International Plc plans to cut 5,000 jobs, or about 9 percent of its workforce, by the end of the first quarter as the oil services company tries to save costs amid sinking oil prices and budget cuts. The job cuts will focus on both operating and support positions and a majority of the reductions will be in the Western Hemisphere, the company said in a statement.
Weatherford, which currently employs about 56,000 people across the world, expects the job cuts to result in annualized savings of over $350 million.Add the Weatherford cuts to earlier announced cuts:
- more job cuts at banks seen in poll of investors, January 21, 2015
- big job cuts seen at DreamWorks, January 19, 2015
- 50,000 Wall Street jobs lost, January 17, 2015
- Microsoft will cut 18,000 jobs by June, 2015, July 7, 2014
- Governor Rick Scott cuts more state jobs than any other governor, January 17, 2015
- Coca-Cola to cut up to 1,800 jobs, January 8, 2015
- US Army could see 4,200 jobs cut at Ft Eustis, January 13, 2015
- Altisource Portfolio Solutions, Boston, layoffs hit, January 14, 2015
- USPS will shed 3,000 jobs by 2015, July 3, 2014
- Blytheville Mill to cut 300 jobs, January 9, 2015
- Carolinas Healthcare to book layoffs, January 22, 2015
- CHI Health foresees staff cuts early in 2015, but effect on Nebraska, Iowa not yet known, November 19, 2014
**************************************
The Midnight Fugue Begins
No comments:
Post a Comment