Renault hit by historic €7.3 billion loss as painful choices loom

French automaker Renault reported its biggest half-year loss ever on Thursday, with revenue slashed by a third as dealerships worldwide were emptied by the coronavirus crisis. The dire results underscored the challenges facing CEO Luca de Meo, who was brought in this month to revamp a company reeling from strategic missteps and the ousting of former boss Carlos Ghosn last year on financial misconduct charges. Source France24

US: Schlumberger slashes 21,000 jobs amid pandemic oil rout

Schlumberger is cutting more than 21,000 jobs as the global coronavirus pandemic quashes demand for energy and oil prices are routed. The company will pay more than $1 billion in severance benefits. The job cuts announced Friday, about a quarter of its entire workforce, puts the number of people employed by the world’s largest oilfield services company close to where it was at the start of the oil and gas fracking boom that upended global energy markets and put the U.S. on top. Source Wag MTV