Another oil major fires 10,000 employees

"Abrupt cancellations" lead to losses totaling billions and massive layoffs at the world's largest oil service company, which has let more than every fourth employee go in just one year.

Photo: AP Photo/Ronald Zak

Shell announced earlier this week that the company will lay off 10,000 employees, and a similar message has now landed from Schlumberger, the world's largest oil service company, reports Financial Times.

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