Schlumberger Cutting More Jobs As Profit Nosedives

April 16, 2015 10:32 PM

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Schlumberger Schlumberger, the world’s largest oilfield services company, reported a sharp decline in first quarter profits on Thursday and said it was slashing 11,000 more jobs.

It largely blamed its troubles on the decline in North American drilling and attendant pricing pressures, as the plunge in oil prices continues to roil the energy industry.

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