- Category: No Job Outrage
- Last Updated: Friday, 23 December 2016 08:18
2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.
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%.
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 modest drop in Kibsgaard's compensation was the result of the performance of his pension plan. His base salary and stock were up from 2014 levels. The cash he took home jumped 12% to $5.2 million.