BUZZ-SLB rises on plan to cut jobs, reorganize company
ReutersFeb 11, 2025 5:38 PM
Oilfield services provider SLB's SLB.N shares rise 2.1% at $42.06
Company to lay off employees and reorganize specific functions within its business, according to a source familiar with the matter and an internal email seen by Reuters
SLB did not specify the number of workers who would be laid off; it employed roughly 111,000 people as of February 2024, according to a filing
Reorganized functions would be in place by the end of the month and personnel updates would be out by the end of the quarter, said the source
SLB had been restructuring in the past year and took $237 million in severance charges in 2024
Including session's moves, stock up 9.53% YTD
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