Schlumberger has completed its plan to cut 21,000 jobs in response to the oil downturn, according to its latest accounts.
Olivier Le Peuch
Schlumberger, the largest oil field service company, said Friday it lost $7.4 billion in the first quarter. Then its CEO said the second quarter will be worse.
Schlumbergers chief financial officer has announced plans to step down following the company's £9.3billion pre-tax loss in October.
Heavy impairment charges led Schlumberger to a loss of £9.3billion before tax in its third quarter results.
Oilfield services giant Schlumberger has appointed a former North Sea boss as its new chief executive.