Schlumberger layoffs hit Cameron Drilling in Moore


Layoffs by Schlumberger are hitting Oklahoma. The Europe-based company with U.S. headquarters in Houston hinted earlier in the week that layoffs might occur and now an Oklahoma subsidiary, Cameron Drilling announced employee terminations will begin in June and July.

Notification by Cameron Drilling, based in Moore was made Friday with the Oklahoma Workforce Development Office. The comopany indicated through its WARN notice that 59 workers will be laid off June 23 and another 15 will be let go July 20.

However, facebook comments by some former workers indicated the layoffs actually started in March.

Cameron Drilling became a part of the Schlumberger corporate family in 2016. The merger was announced in 2015 and finalized in 2016, resulting in Cameron shareholders owning about 10% of Schlumberger’s outstanding common stock.

Schlumberger, the parent company released financial results a week earlier and said its worldwide revenue of $7.5 billion had dropped 9% in the past quarter and was down 5% from a year earlier. The company’s North America revenue was $2.3 billion, 17% down from the previous year.


Source: Workforce Development Office