Green Touch Builders | Oilfield services company to cut 1,000 jobs
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February 23, 2015 By SEO Admin

Oilfield services company to cut 1,000 jobs

Archer Ltd., a Bermuda-based company that has its U.S. operations in Houston, plans to cut 11 percent of its global workforce.

That’s about 1,000 positions, the oilfield services company said in its fourth-quarter and year-end earnings report. Archer employed about 8,800 people as of Dec. 31, 2014.

Archer cited the reduction in activity and demand for its services as the reason for the cuts. The company saw the biggest reduction in the U.S. land market, as well as the North Sea.

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