Schlumberger Ltd., the largest oil-field service company in the world, will cut an additional 11,000 workers from its ranks, bringing the firm’s layoffs to 20,000 employees. The company, a bellwether for the energy industry, announced the steep cuts late Thursday as it told investors that profit for the first quarter had plunged by 39% amid a slowdown in drilling for oil and gas. “The abruptness of the fall in activity, particularly in North America, required us to take additional actions,” said Paal Kibsgaard, chief executive of Schlumberger. Schlumberger, which has dual headquarters in Houston and Paris, announced 9,000 job cuts in January this year. The combined workforce reductions amount to a 15% reduction in its world-wide workforce, said Angie Sedita, an analyst at investment bank UBS. Schlumberger helps oil producers […]