NEWS ARCHIVE

Weatherford job cuts to reach 20,000

WEATHERFORD International's stock enjoyed its biggest surge in more than four years after boosting 2016 cash flow projections and announcing it will lay off another 6000 workers in the first half of this year, bringing the total number of jobs cut since oil prices started plummeting to 20,000.

Anthony Barich

The world's fourth largest oil field services provider's New York-listed stock rose 20% to $US7.53 yesterday, the biggest intra-day run since March 2011, after telling analysts in a conference call it...

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