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2014-02-03 16:38:00

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS

WFD plans to cut 7,000 employees from its staff in the first half of the year to save $500 million. The employee reductions are part of a global cost-cutting program started by Weatherford in 2013. 
Company plans to reduce its debt by $3 billion to $5 billion by the end of 2015 by divesting a significant chunk of assets.

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Tags: WEATHERFORD
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