Coupling SLB share price to oil price is over simplifying how the market works.
How much oil price should be for slb to come back? Not long ago oil price was lower than what it is now and slb was performing much better.
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Slb failed to resolve promise they made to investors about keeping capex and opex down.
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There are more than 70k families out there saying no to slb services - these 70k skilled workers already taking part of market pie.
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laying off 70k was the old fashioned stupid way of cutting cost, majority of segments revenue spent on severance and legal fees for laid off work force
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majority of employees are senior and expensive management