Baku, April 20, AZERTAC
Schlumberger, a giant oil field services firm, announced Thursday it will lay off another 11,000 workers, triggering what could be a second major wave of layoffs across the oil industry, the Houston Chronicle reported.
The action would bring Schlumberger's layoffs up to 20,000 employees, or about 15 percent of its workforce, since it began scaling back its payroll this year due to the low price of oil, according to the report. The nine-month oil slump has cost the energy industry more than 120,000 jobs so far, the story said.
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