Schlumberger Recorded Severance Charges Of $111M In Q2 And $65M In Q3 Of 2024
Portfolio Pulse from Benzinga Newsdesk
Schlumberger (SLB) recorded severance charges of $111 million in Q2 and $65 million in Q3 of 2024 as part of a restructuring program to optimize its support and service delivery structure.
October 23, 2024 | 4:46 pm
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Schlumberger recorded significant severance charges totaling $176 million in 2024 due to a restructuring program aimed at optimizing its operations.
The severance charges indicate a significant restructuring effort, which may lead to short-term financial strain and potential investor concern. However, the long-term goal is to optimize operations, which could be beneficial. The immediate impact is likely negative due to the costs involved.
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