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Thursday, February 5, 2015

Weatherford To Cut 5,000 Jobs -- February 5, 2015; 2015: The Year Of Cutbacks

Reuters at Rigzone is reporting:
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:
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The Midnight Fugue Begins

All My Loving, Paul McCartney

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