http://fuelfix.com/blog/2015/10/21/weatherford-plans-to-cut-3000-more-jobs-by-the-end-of-2015/#36089101=0
Weatherford International has ratcheted up its layoff plans,
announcing Wednesday that it will lay off another 3,000 workers by the
end of the year.
The company reached its goal of slashing 11,000 jobs in the third
quarter, but a fresh fall in oil prices and slumping international
revenues spurred the company to revise the target to 14,000 worldwide,
with an increased focus on support positions, Weatherford said.
The oil field services firm, based in Switzerland with main offices
in Houston, said it has closed five manufacturing and service
facilities, and will close another by the end of 2015. A seventh is
slated for closure next year. Weatherford has also shuttered 70
operating facilities through the end of the third quarter and now plans
to close 20 more by the end of the year in an effort to offset the pain
from the lingering crude slump.
In total, the company has generated $2 billion in savings through
cost-cutting measures that started in 2014, CEO Bernard Duroc-Danner
said in a statement.
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