March 20, 2015 / 4:38 PM / 3 years ago

Factbox: U.S. energy companies slash jobs as oil prices weaken

(Reuters) - Oilfield giants Schlumberger Ltd (SLB.N) and Halliburton Co (HAL.N) and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have halved since June.

In March, Brent prices LCoc1 fell to a near six-year low, hurt by a global supply glut and OPEC’s decision not to curtail production. This prompted oil producers to trim their budgets and lower the number of rigs planned for 2015, hurting their suppliers and service providers.

Smaller oil services company Weatherford said last month it would eliminate the position of chief operating officer, while tiny oil and gas producer Resolute Energy Corp REN.N said it would slash its CEO’s base pay by 96 percent.

Oil major BP Plc (BP.L) said it would freeze its base pay across the company this year, while Basic Energy Services (BAS.N) said it has implemented salary cuts for all management and administrative employees and made changes to some benefit programs.

The job cuts announced so far would not be sufficient to maintain profitability, analysts at Sanford C. Bernstein wrote in a note on March 16. The offshore oil services industry in the United States and Europe has to cut 10-15 percent more jobs over 2015, they said.

Company Job cuts Total no. of Date of

no./percentage employees announcement of

job cuts

Schlumberger Ltd 9,000 jobs About 120,000, as of Jan. 15, 2015

(SLB.N) Dec. 31, 2014

Baker Hughes Inc 7,000 jobs About 59,400, as of Jan. 20, 2015

BHI.N Dec. 31, 2013

Halliburton Co (HAL.N) 5,200-6,400 jobs 77,000, as of Dec. Feb. 10, 2015

31, 2013

Helmerich & Payne Inc 2,000 jobs 11,914, as of Sept. Jan. 29, 2015

(HP.N) 30, 2014

Weatherford 5,000 jobs 67,000, as of Dec. Feb. 05, 2015

International Plc 31, 2013

(WFT.N)

Civeo Corp CVEO.N 45 pct in U.S., 3,000 full-time Dec. 29, 2014

30 pct in employees, as of Dec.

Canada, from 31, 2014

2014 levels

Hercules Offshore Inc About 30 pct About 2,200, as of Feb. 12, 2015

HERO.O Dec. 31, 2013

MRC Global Inc (MRC.N) 500, or 10 pct, About 4,947, as of Feb. 20, 2015

since March 2014 Dec. 31, 2014

Expects headcount of

about 4,700 by April

Basic Energy Services 400 jobs About 5,400, as of Feb. 11, 2015

Inc (BAS.N) Dec. 31, 2013

Parker Drilling Co 8 pct. Expects 3,443, as of Dec. 31, Feb. 19, 2015

(PKD.N) 10 pct reduction 2014

by mid-year

ConocoPhillips (COP.N) 7 pct, or about About 19,100, as of March 18, 2015

200 jobs, in Dec. 31, 2014

Canada

Enable Midstream About 10 pct About 2,000 employees Feb. 16, 2015

Partners LP (ENBL.N) and contractors, as

of Dec. 31, 2014

SunCoke Energy Inc 175 jobs 1,577, as of Dec. 31, Dec. 15, 2014

(SXC.N) 2013

Range Resources Corp Closes Oklahoma 990, as of Jan. 1, Feb. 24, 2015

(RRC.N) City office, 2015

impacting 100

employees

DCP Midstream Partners About 20 pct of About 650, as of Dec. Jan. 30, 2015

LP DPM.N corporate staff 31, 2014

Ion Geophysical Corp About 10 pct 879, as of Dec. 31, Feb. 11, 2015

IO.N 2014

EXCO Resources Inc 15 pct 558, as of Dec. 31, Feb. 24, 2015

(XCO.N) 2014

Laredo Petroleum Inc 75 jobs 371, as of Dec. 31, Jan. 20, 2015

(LPI.N) 2013

PostRock Energy Corp 25 pct of staff About 209, as of Dec. Feb. 05, 2015

PSTR.O in Oklahoma 31, 2013; 57 in

headquarters Oklahoma headquarters

Ensco Plc (ESV.N) About 50 pct About 8,500 workers Feb. 26, 2015

onshore as of Feb. 23, 2015

personnel

WPX Energy Inc (WPX.N) About 8 pct About 1,100 full-time March 2, 2015

employees as of Dec.

21, 2014

Nabors Industries Ltd About 12 pct About 29,000, as of March 3, 2015

(NBR.N) Dec. 31, 2014

Bengaluru Newsroom; Editing by Sriraj Kalluvila and Don Sebastian

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