Most of the decrease in the quarterly revenue for the first quarter of the year came from the “severe” decline in North America, Schlumberger said. The oil services company said it would cut another 11,000 from its workforce, bringing the total to 20,000 since trimming expenses earlier this year to offset lower oil prices. That represents about 15 percent of the company’s staff. “Schlumberger first-quarter revenue decreased 19 percent sequentially driven by the severe decline in North American land activity and associated pricing pressure,” Chairman and Chief Executive Officer Pall Kibsgaard said in a statement. Baker Hughes last week reported 988 active rigs in the United States for the week ending April 10, down nearly 4 percent from the previous week and 46 percent lower […]