Oilfield giant ‘to cut 8,000 jobs’

One of the world’s biggest oilfield service companies reportedly plans to lay off 8,000 employees. Reports claim Weatherford International is trying to reduce costs amid lower oil prices and budget […]

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By Priyanka Shrestha

One of the world’s biggest oilfield service companies reportedly plans to lay off 8,000 employees.

Reports claim Weatherford International is trying to reduce costs amid lower oil prices and budget cuts.

There have been speculation that while most of the company’s US operations will be affected, jobs in Aberdeen would also be reduced.

The company has been quoted as saying: “Due to the quickly changing market conditions, we are aligning and reducing our cost as well as organisational structures to match the new environment.”

Weatherford currently employs around 56,000 people across the world.

Other major oil companies such as BP also announced job cuts this year as a result of falling oil prices.