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

Tue 4th August, 2015 12:29pm
(Adds Superior Energy Services, ConocoPhillips) 
    Aug 4 (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 at about $50 levels, a 57 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 in July it would cut 6,500 jobs this year, or about 
7 percent of its global workforce. Chevron Corp  CVX.N , the second-largest U.S. oil 
company, said it would lay off 1,500 employees, or about 2 percent of its global 
workforce. 
         
 
 Company                 Job cuts no./percentage  Total no. of           Date of 
                                                  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 pct of     About 64,700           July 28, 2015 
                         global workforce         employees, as of Dec.   
                                                  31                      
                                                                          
 Helmerich & Payne Inc   2,000 jobs               11,914, as of Sept.    Jan. 29, 2015 
  HP.N                                            30                      
                                                                          
 Weatherford             11,000 jobs in 2015      About 56,000, as of    July 23, 2015 
 International Plc                                Dec. 31                 
  WFT.N                                                                   
                                                                          
 Royal Dutch Shell       6,500 jobs in 2015       About 94,000 as of     July 30, 2015 
  RDSa.L                                          Dec. 31                 
                                                                          
 Superior Energy         3,400 positions, or 24   About 14,300 workers   July 30, 2015 
 Services Inc  SPN.N     pct, this year           as of Dec. 31           
                                                                          
 Civeo Corp  CVEO.N      45 pct in U.S., 30 pct   3,000 full-time        Dec. 29, 2014  
                         in Canada, from 2014     employees, as of Dec.   
                         levels                   31                      
                                                                          
 ConocoPhillips  COP.N   Has cut 1,000, or 5 pct  About 19,100, as of    July 30, 2015 
                         of total workforce,      Dec. 31                 
                         looking at more cuts                             
                                                                          
 Hercules Offshore Inc   About 40 pct of global   About 1,800, as of     April 29, 2015 
  HERO.O                 workforce                Dec. 31                 
                                                                          
 MRC Global Inc  MRC.N   500, or 10 pct, since    About 4,947, as of     Feb. 20, 2015  
                         March 2014               Dec. 31                 
                                                  Expects headcount of    
                                                  about 4,700 by April    
                                                                          
 Basic Energy Services   20 pct lower than peak   About 5,700, as of     April 23, 2015 
 Inc  BAS.N              of Q4 2014               Dec. 31                 
                                                                          
 General Electric Co     575 in Texas oil and     About 44,000           March 25, 2015 
  GE.N                   gas division             employees (GE Oil &     
                                                  gas), as of Dec. 31     
                                                                          
 Parker Drilling Co      8 pct. Expects 10 pct    3,443, as of Dec. 31   Feb. 19, 2015  
  PKD.N                  reduction by mid-year                            
                                                                          
 Noble Energy Inc        220 U.S. employees       About 2,200 U.S.       April 07, 2015 
  NBL.N                                           employees               
                                                                          
 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 City     990, as of Jan. 1,     Feb. 24, 2015 
  RRC.N                  office, impacting 100    2015                    
                         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 in       About 143, as of Dec.  Feb. 05, 2015 
  PSTR.O                 Oklahoma headquarters    31; 56 in Oklahoma      
                                                  headquarters            
                                                                          
 Ensco Plc  ESV.N        About 50 pct onshore     About 8,500 workers    Feb. 26, 2015 
                         personnel                as of Feb. 23, 2015     
                                                                          
 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 of      About 29,000, as of    April 21, 2015  
  NBR.N                  global workforce         Dec. 31                 
                                                                          
  
 (Bengaluru Newsroom; Editing by Sriraj Kalluvila and Don Sebastian) 
 ((swetha.gopinath@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 
6749 1130; Reuters Messaging: swetha.gopinath.thomsonreuters.com@reuters.net)) 
 
Keywords: OIL PRICE/REDUNDANCIES USA
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