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WFT Weatherford International Plc (Ireland)

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Share Name Share Symbol Market Type
Weatherford International Plc (Ireland) NYSE:WFT NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Weatherford CFO: Has Cut 3,000 Jobs, Closed Over 20 Plants

20/07/2009 4:48pm

Dow Jones News


Weatherford (NYSE:WFT)
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Weatherford International Ltd.'s (WFT) Chief Financial Officer Andrew P. Becnel said Monday that the company has cut 3,000 jobs and closed more than 20 facilities.

"We are not done, we will continue to identify and execute on improvements to our cost structure," Becnel said during a conference call to discuss the company's second quarter earnings.

Weatherford's second-quarter earnings fell 89%, with results missing analysts' expectations, as international growth failed to offset a steep drop in North American demand.

Weatherford provides oilfield products and services.

-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com

 
 

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