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DewDiligence

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Re: OakesCS post# 9490

Friday, 04/17/2015 11:33:40 AM

Friday, April 17, 2015 11:33:40 AM

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SLB cuts 11,000 more jobs—worldwide employment down 15% from peak:

http://www.wsj.com/articles/schlumberger-profit-falls-39-capex-jobs-cut-1429217902

Schlumberger Ltd. , the largest oil-field service company in the world, will cut an additional 11,000 workers from its ranks, bringing the firm’s layoffs to 20,000 employees.

The company, a bellwether for the energy industry, announced the steep cuts late Thursday as it told investors that profit for the first quarter had plunged by 39% amid a slowdown in drilling for oil and gas.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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