Schlumberger, the largest oil field service company in the world, is planning a major overhaul of its business units that will now be split into four new divisions that will operate in five geographic territories.
Citing future challenges in the energy industry, the Houston and Paris-based company reported Thursday that the companywide restructuring would take places over the next few months.
"The restructuring is aligned with the company’s performance strategy, and our aspiration to become the performance partner of choice for our customers," the company said in a statement.
Many things are taking place:
A Wave of Small Business Closures Is on the Way. Can Washington Stop It? - The New York Times
One of the great threats to the post-pandemic economy is becoming clear: Vast numbers of small and midsize businesses will close permanently during the crisis, causing millions of jobs to be lost.
The federal government moved with uncharacteristic speed to help those businesses — enacting the Paycheck Protection Program, with $669 billion allocated so far.
But there is a problem. The structure of the program is not particularly well suited to the type of crisis that millions of businesses face. The program may have bought businesses some time, but in its current shape it will not enable many of them to remain solvent long enough to emerge from the other side of the pandemic in some viable form.
How to reopen your small business after coronavirus lockdowns
No one has the answers to these questions. But the "essential" businesses that have been allowed to operate over the last few months can give us a preview of the coming months. These small-business owners have already learned important lessons.
And the biggest takeaway? It's all about your employees. Making them a priority will go a long way toward a successful recovery. So how did these businesses look after their employees?
For starters, they changed the way they worked. Don't expect that your employees will come streaming in the doors at 9 am, sit at their desks, and pick up from where they left off. The essential businesses that stayed in operation made significant efforts to keep their employees safely distanced from each other and comfortable in the office.
Skyflow raises $7.5M to build its privacy API business – TechCrunch
For Skyflow, founded in 2019, the capital raise and its constituent announcement mark an exit from quasi-stealth mode.
TechCrunch knew a little about Skyflow before it announced its seed round because one if its co-founders, Anshu Sharma is a former Salesforce executive and former venture partner at Storm Ventures , a venture capital firm that focuses on enterprise SaaS businesses. That he left the venture world to eventually found something new caught our eye.
In case you are keeping track:
Retirement-age business owners are draining their nest eggs to stay in business | Pittsburgh
Zuck weighs in on WFH, and 4 other business stories you need to read today - CNN
(CNN Business) Happy Thursday, the day before the Friday of Memorial Day weekend, which under quarantine will probably just be... days. Anyway, here are the five business stories you shouldn't miss.
Indianapolis’ venture studio High Alpha launches new business bringing studio model to
The Indianapolis-based venture studio High Alpha has created a new business line called High Alpha Innovation to bring its startup spin-up approach to big business.
So far the firm has managed to sign on clients like the financial services firm Silicon Valley Bank, the industrial manufacturer Cummins and the security hardware and services company Allegion.
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Parker heads the new High Alpha Innovation business and has already launched one company in conjunction with Cummins, the startup Anvl , which coaches field technicians on how to be safer on the job when they’re working with big machines.
5 Lessons Small Business Owners Should Learn From The Coronavirus Crisis
I've had my moments of despair, as have we all, but I find myself looking for the silver lining. There are always lessons to be learned in chaos; it's up to us whether we heed them or not.
But I am not angry or bitter, though it would be within reason to be so. Why? Because I know I'm not alone—20% of my company was laid off. Millions of other people have been laid off, furloughed, or seen a reduction in the number of hours they can work.
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Because I'm also a business owner, I see the other side as well. The few clients I've kept have asked for a temporary reduction in rates. Do I give it to them and be glad to make some money? Or say no and make none? You might be struggling with the same decisions.
Happening on Twitter
EXCLUSIVE: Schlumberger, the world's largest oilfield services firm, names new top executives to oversee corporate… https://t.co/YAMSMAuUZK Reuters (from Around the world) Thu May 21 08:29:03 +0000 2020
Exclusive: Schlumberger names new top executives to oversee corporate overhaul https://t.co/ImmcrMNicW https://t.co/3WgOiBGoAO Reuters (from Around the world) Thu May 21 05:20:01 +0000 2020
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