More Oilfield Layoffs Expected, National Oilwell Varco NOV Downsizing

Job 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.

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The drilling and oil well completion service company has started trimming its workforce by offering voluntary early retirement to eligible employees, the news agency Reuters reported on Wednesday. [read more]

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