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Job cuts Report – NOV expected Job cuts amid ongoing oil & gas industry slump

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ob cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins. – https://www.chron.com

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  1. News

    July 29, 2019 at 10:19 pm

    National Oilwell Varco, Inc. (NOV) today reported second-quarter 2019 revenues of $2.13 billion, an increase of 10 percent compared to the first quarter of 2019 and an increase of one percent from the second quarter of 2018. Net loss for the second quarter of 2019 was $5.39 billion, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for additional detail) of $5.77 billion. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) increased $55 million sequentially to $195 million, or 9.1 percent of sales.

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Baker Hughes

Baker Hughes is a energy technology company

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Baker Hughes marks its independence after more than two years of majority ownership by the industrial conglomerate General Electric Co.

A team that brings out the best in each other: Russell Wilkerson, Ladan Slack-Smith, Alessandro Antonelli, Mary Roché, Leann Coppola, CMP, Laure Brooks, and Shelley Adams.

Baker Hughes is an international industrial service company and one of the world’s largest oil field services companies. The company provides the oil and gas industry with products and services for oil drilling, formation evaluation, completion, production and reservoir consulting.

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 Halliburton

Halliburton Lays Off 650 employees across the Rockies region

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Halliburton has laid off 650 employees across the Rockies region. Officials say there is growing concern over uncertainty following an oil and gas bill passed this year that overhauls industry regulations in the state.

 

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