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FACTBOX-U.S. energy companies slash jobs as oil prices weaken

Thu 30th July, 2015 3:43pm
(Adds Royal Dutch Shell) 
    July 30 (Reuters) - Job cuts at oilfield service providers Halliburton Co 
 HAL.N  and Baker Hughes Inc  BHI.N  have turned out to be steeper than expected 
as crude prices hold below $50 levels, a 40 percent drop from June last year. 
    Halliburton Co  HAL.N , which is buying Baker Hughes in a $35 billion deal, 
is slashing 14,000 jobs. Baker Hughes plans to cut about 13,000 jobs worldwide. 
    Halliburton said in April it would cut 9,000 jobs, while Baker Hughes said it 
planned to reduce 10,500 jobs. 
    Demand for oilfield services has been hit as oil producers have trimmed their 
budgets and lowered the number of rigs they planned to deploy this year. 
    Schlumberger, the world's No.1 oilfield services provider, said earlier in 
July that the company expects little improvement in pricing levels in the near 
future.  ID:nL4N0ZX4AO   
    Houston-based Schlumberger said in April that it would cut 11,000 jobs, 
bringing the total job cuts announced this year to 20,000, or about 15 percent of 
its workforce.  ID:nL4N0XE4FC  
    Oil producers have also cut thousands of jobs.  
    Royal Dutch Shell  RDSa.L  said on July 30 it would cut 6,500 jobs this year, 
or about 7 percent of its global workforce.  ID:nL5N10A1AS  
    Chevron Corp  CVX.N , the second-largest U.S. oil company, said on July 28 it 
would lay off 1,500 employees, or about 2 percent of its global workforce. 
         
 
 Company                 Job cuts          Total no. of           Date of 
                         no./percentage    employees              announcement of 
                                                                  job cuts 
 Schlumberger Ltd        20,000 jobs       About 120,000, as of   April 16, 2015 
  SLB.N                                    Dec. 31                 
                                                                   
 Baker Hughes Inc        13,000 jobs       About 62,000, as of    June 24, 2015 
  BHI.N                                    Dec. 31                 
                                                                   
 Halliburton Co  HAL.N   About 14,000      More than 70,000, as   July 24, 2015  
                                           of June 30, 2015        
                                                                   
 Chevron Corp  CVX.N     1,500 jobs, 2     About 64,700           July 28, 2015 
                         pct of global     employees, as of Dec.   
                         workforce         31                      
                                                                   
 Helmerich & Payne Inc   2,000 jobs        11,914, as of Sept.    Jan. 29, 2015 
  HP.N                                     30                      
                                                                   
 Weatherford             11,000 jobs in    About 56,000, as of    July 23, 2015 
 International Plc       2015              Dec. 31                 
  WFT.N                                                            
                                                                   
 Royal Dutch Shell       6,500 jobs in     About 94,000 as of     July 30, 2015 
  RDSa.L                 2015              Dec. 31                 
                                                                   
 Civeo Corp  CVEO.N      45 pct in U.S.,   3,000 full-time        Dec. 29, 2014  
                         30 pct in         employees, as of Dec.   
                         Canada, from      31                      
                         2014 levels                               
                                                                   
 Hercules Offshore Inc   About 40 pct of   About 1,800, as of     April 29, 2015 
  HERO.O                 global workforce  Dec. 31                 
                                                                   
 MRC Global Inc  MRC.N   500, or 10 pct,   About 4,947, as of     Feb. 20, 2015  
                         since March 2014  Dec. 31                 
                                           Expects headcount of    
                                           about 4,700 by April    
                                                                   
 Basic Energy Services   20 pct lower      About 5,700, as of     April 23, 2015 
 Inc  BAS.N              than peak of Q4   Dec. 31                 
                         2014                                      
                                                                   
 General Electric Co     575 in Texas oil  About 44,000           March 25, 2015 
  GE.N                   and gas division  employees (GE Oil &     
                                           gas), as of Dec. 31     
                                                                   
 Parker Drilling Co      8 pct. Expects    3,443, as of Dec. 31   Feb. 19, 2015  
  PKD.N                  10 pct reduction                          
                         by mid-year                               
                                                                   
 Noble Energy Inc        220 U.S.          About 2,200 U.S.       April 07, 2015 
  NBL.N                  employees         employees               
                                                                   
 ConocoPhillips  COP.N   7 pct, or about   About 19,100, as of    March 18, 2015 
                         200 jobs, in      Dec. 31                 
                         Canada                                    
                                                                   
 Enable Midstream        About 10 pct      About 2,000 employees  Feb. 16, 2015  
 Partners LP  ENBL.N                       and contractors, as     
                                           of Dec. 31              
                                                                   
 Range Resources Corp    Closes Oklahoma   990, as of Jan. 1,     Feb. 24, 2015 
  RRC.N                  City office,      2015                    
                         impacting 100                             
                         employees                                 
                                                                   
 DCP Midstream Partners  About 20 pct of   About 650, as of Dec.  Jan. 30, 2015  
 LP  DPM.N               corporate staff   31                      
                                                                   
 Ion Geophysical Corp    About 10 pct      879, as of Dec. 31     Feb. 11, 2015 
  IO.N                                                             
                                                                   
 EXCO Resources Inc      15 pct            558, as of Dec. 31     Feb. 24, 2015  
  XCO.N                                                            
                                                                   
 Laredo Petroleum Inc    75 jobs           About 420, as of Dec.  Jan. 20, 2015 
  LPI.N                                    31                      
                                                                   
 PostRock Energy Corp    25 pct of staff   About 143, as of Dec.  Feb. 05, 2015 
  PSTR.O                 in Oklahoma       31; 56 in Oklahoma      
                         headquarters      headquarters            
                                                                   
 Ensco Plc  ESV.N        About 50 pct      About 8,500 workers    Feb. 26, 2015 
                         onshore           as of Feb. 23, 2015     
                         personnel                                 
                                                                   
 WPX Energy Inc  WPX.N   About 8 pct       About 1,100 full-time  March 2, 2015 
                                           employees as of Dec.    
                                           21                      
                                                                   
 Nabors Industries Ltd   More than 18 pct  About 29,000, as of    April 21, 2015  
  NBR.N                  of global         Dec. 31                 
                         workforce                                 
                                                                   
  
 (Bengaluru Newsroom; Editing by Sriraj Kalluvila and Don Sebastian) 
 ((AnetJosline.Pinto@thomsonreuters.com; within U.S. +1 646 223 8780, outside 
U.S. +91 99 1694 7070; Reuters Messaging: 
AnetJosline.Pinto.thomsonreuters.com@reuters.net)) 
 
Keywords: OIL PRICE/REDUNDANCIES USA
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