At oil extraction company Schlumberger, of which one of the four head offices is in The Hague, a quarter of the jobs are lost. This concerns 21,000 of the 85,000 jobs. The company announced this when the figures for the second quarter were presented.
Schlumberger recorded a loss of $ 3.4 billion ($ 2.9 billion) in the past three months, on sales of $ 5.4 billion. The company also dipped deep into the red the previous quarter. The board therefore wants to cut one in four jobs. It is not clear how many layoffs there are in the Netherlands.
The company has set aside over $ 1 billion for the mass layoff. The majority is expected to be used as early as the second half of this year.
The oil sector is severely affected by the corona crisis. Demand for oil has fallen sharply due to lockdown measures introduced in many countries. Schlumberger CEO Olivier Le Peuch speaks of “the most challenging quarter in recent decades”.