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Actionable news in SLB: SCHLUMBERGER LIMITED,

Schlumberger to cut more jobs in Q4, sees recovery pushed out to 2017

Schlumberger (SLB -2.8%) will cut more jobs and consolidate its manufacturing and distribution network, as the company warns of at least another year of pain across the industry, CEO Paal Kibsgaard said in today's earnings conference call.

"The likely recovery in our activity levels now seems to be a 2017 event,” the CEO said, as E&P companies have indicated they plan to cut...


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