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.
More information here.