Driller Nabors says it reduced workforce by over 18 pct

Tue Apr 21, 2015 5:33pm EDT
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April 21 (Reuters) - Contract driller Nabors Industries Ltd said it reduced its global workforce by more than 18 percent since the end of 2014 as the slump in oil prices hurt drilling activity.

Nabors said on Tuesday it cut its workforce by 41 percent in its U.S. drilling operations and 26 percent in Canada.

The company's revenue fell 10.5 percent to $1.42 billion in the first quarter ended March 31. (Reporting by Tanvi Mehta in Bengaluru; Editing by Kirti Pandey)