Schlumberger To Reduce Workforce By 11,000 Jobs

Oilfield services giant Schlumberger announced more layoffs of approximately 11,000 employees across the company. These job losses are in response to the continued downturn in oil prices.

A portion of the company's official statement read:

"As a result of the severe fall in activity in North America combined with the impact of lower international activity due to customer budget cuts driven by lower oil prices, Schlumberger took the decision to further reduce its headcount by approximately 11,000 employees."

It is unknown where jobs will be cut or how many Louisiana-based employees will be affected. Schlumberger operates numerous locations around the state including Abbeville, Berwick, Broussard, Lafayette, Maurice, New Iberia, Scott and Youngsville.

The company, which laid off 9,000 workers in January, said cuts should be complete by the end of the second quarter of the year.