Friday, February 19, 2016

Oil driller cut 25,000 jobs, paid CEO $18 million

From:  CNN



2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.

CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before. 

The rest of Schlumberger didn't fare so well. The company cut 25,000 jobs during the year, or 20% of its workforce. Revenue was down 27%, and profit plunged 41%. 

Schlumberger (SLB) shares tumbled 18%. MORE