SCHLUMBERGER PLANS FOR COST CUTS; RECORDS SECOND QUARTER LOSS

Highlights –

• Schlumberger plans for cost cuts; records second-quarter loss.
• The U.S oilfield service providers recorded a $3.7 billion charge.
• The company reported a net loss of $3.43 billion.
• The company’s stock was down slightly at $19.23 per share.

The world’s largest oilfield services Schlumberger NV (SLB.N) on Friday outlined plans for....