Weatherford cuts headcount, to delist from exchange

Houston-based Weatherford International PLC (OTC Pink: WFTLF) has made deep cuts to several parts of its business as oil prices plunge, and the company is now eyeing an exit from public markets.

Weatherford has reduced its capital spending plans for 2020 to half of what it spent in 2019, and it is consolidating its geographic footprint and some of its business lines, the company said in an April 15 press release.

Increasing oil supply from OPEC member states and sliding demand as consumers adopt…


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