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Weatherford begin workforce reduction of 5000


Published Feb 6, 2015
Weatherford

Due to the quickly changing market conditions, Weatherford International is aligning and reducing costs as well as organizational structures to match the new environment. As a result, they plan a leaner structure and a tighter organization.

The Company have commenced a reduction-in-force exercise targeting 5,000 positions, of which more than 85% are located in the Western Hemisphere. The headcount reduction is expected to be complete by the end of the first quarter of 2015, resulting in expected annualized savings of over $350 million. Weatherford is also offering a Voluntary Separation Opportunity Program to eligible employees as part of the recognized need to reduce our employee workforce. The focus is on both operating and support positions.

Tags: Weatherford International Ltd




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