Weatherford will make another 1,000 job cuts, mostly in its U.S. support staff, as its onshore shale business continues to suffer with low oil prices, the company’s CEO said in its second-quarter earnings conference call.
FMC Technologies executives say its joint venture with another subsea oil-equipment maker has been welcomed by operators but it will have to continue to cut its workforce in coming quarters as activity stagnates.
The company, which is set to sell itself to larger rival Halliburton by the end of the year, saw its biggest revenue decline in North America, with sales falling 26 percent below first-quarter revenue.
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