VIENNA: Austrian oilfield equipment producer Schoeller-Bleckmann (SBO) said on Thursday it cut jobs in the United States and secured new loans to navigate through the pandemic after bookings contracted 42% in the first half of 2020.
SBO, which generates a large chunk of demand for its drilling motors, circulation tools and repair and maintenance services in North America, cut its headcount in the United States by around 40%, it said. Its global workforce stood at around 1,200 per end-June, thereof nearly 500 in North America, which includes staff in Mexico.
SBO said it raised loans of 78 million euros ($92 million) as a precautionary measure in August.
The company confirmed preliminary figures of a loss after tax of 12 million euros on revenue of 185 million euros in the January-June period.
Its order backlog was 32% lower at the end of June than half a year earlier.
($1 = 0.8455 euros)
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