Shakeup at Schlumberger During Overhaul

Facing a historic decline in the oil industry, Schlumberger (NYSE:SLB) will reshuffle top executives and operations in the coming months to forge "a leaner, simplified and more responsive organization." As part of the restructuring, Schlumberger plans to consolidate its 17 product lines into four divisions and create five "basins" groups over 30 geographic units. The world's largest oilfield services firm has already cut hundreds of jobs, reduced executive pay by at least 20% and put some low-tech units up for sale.

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Shakeup at Schlumberger During Overhaul

Jun 4, 2020

bullish

general Analysis

[< 1 min Read]

Facing a historic decline in the oil industry, Schlumberger (NYSE:SLB) will reshuffle top executives and operations in the coming months to forge "a leaner, simplified and more responsive organization." As part of the restructuring, Schlumberger plans to consolidate its 17 product lines into four divisions and create five "basins" groups over 30 geographic units. The world's largest oilfield services firm has already cut hundreds of jobs, reduced executive pay by at least 20% and put some low-tech units up for sale.
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SLB

Schlumberger Limited

36.55

-0.42
-1.15%

Return

-
Position Return %
0.00
Position Return
20.33
Price When Posted

Metrics

21.00
Target Price
4/ 10
Confidence
1-3 Years
Timeframe
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