Layoff Totals for US Companies Message Board

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From: peppe51	1/24/2009 1:58:56 PM
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5000...Schlumberger has reported a fall in quarterly profits and said it was cutting 5,000 jobs out of 87,000 worldwide. The firm's net profit fell to $1.15bn (£850m) in the last three months of 2008 from $1.38bn a year earlier. But its shares rose on investor optimism over its prospects. Oil and gas producers around the world have cut spending amid falling crude prices, the ongoing credit crunch and declining energy consumption. We expect 2009 activity to weaken across the board Andrew Gould, Schlumberger chief executive Analysts at Tudor Pickering Holt said Schlumberger's results were not good, but not a disaster. Oil services analyst Longdley Zephirin at Zephirin Group said the market welcomed the fact that Schlumberger's "general tone" had not changed in recent quarters. news.bbc.co.uk

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