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.

back
default-avatar-7

MoonDawg

Jun 4, 2020
· POSITION CLOSED

-13.53%

Position Return %

20.33

Price When Posted

-2.75

Position Return

SLB

Schlumberger Ltd.

28.31

0.00
0.00%
Current Price

Shakeup at Schlumberger During Overhaul

bullish
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.
Comments

Write your comment....

Sign in to comment

read-time
< 1 min

21.00

Target Price

4/ 10

Confidence

1-3 Years

Timeframe
catalyst icon
Earnings Release
catalyst icon
News
catalyst icon
SEC Filing
catalyst icon
Sentiment
catalyst icon
Other Catalyst

SLB Channel

Start new chat
next