2. The business was so bad at that time, we lost 70% of headcount in a few massive layoffs. Schlumberger layoffs confirmed Rumours in the oil and gas industry that oilfield services giant Schlumberger was about to embark on a big employee layoff have been confirmed after its land seismic acquisition business, WesternGeco, announced that it is ceasing operations in mainland US and Canada. Schlumberger is the world's leading oilfield services provider. I worked for a midsize company in a different industry during 2008-2009. Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in the world, plans to cut up to 30 percent from its budget amid … Number of layoffs: 21,000; Chevron and Exxon Mobil aren’t the only oil company to make major cuts amid the pandemic. Severance Agreement- This contains the severance pay and benefits that employers elect to offer beyond your last payment, commonly known as the severance package. But When Schlumberger who is supposed to be one of the most family oriented companies in the world, layed me off a few days before my wife was supposed to go in to labor with a … Schlumberger has corporate offices in Paris, Houston, London and The Hague. A method behind the madness? What is the severance package like for US employees? Schlumberger last week said it would reduce its 2020 capital spending budget by 30% due to the price crash, joining a host of major energy companies that have slashed spending amid the twin supply and demand shock. Employers recognize how difficult layoffs are on both affected workers and retained employees; it is not an action taken lightly. Schlumberger, the world’s largest oil-field services company, cut about 21,000 jobs as oil producers decreased spending in response to a historic drop in prices, The Wall Street Journal reported. Shares of Schlumberger were up … The Bottom Line . 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