Falling oil prices are starting to take their toll on jobs in the industry.
Leigh Paterson reports for Inside Energy.
The Houston-based oilfield services giant Schlumberger reported better-than-expected fourth quarter earnings in 2014, but is laying off 9000 employees in response to falling oil prices. Here is CEO Paul Kibsgaard on the company's quarterly earnings conference call:
"In this uncertain environment, we continue to focus on what we can control and we have already taken significant steps to restructure and resize our business."
Other energy companies like Halliburton, Shell and Apache have also recently announced layoffs as oil prices continue to fall.
