Schlumberger has yet to confirm where or exactly when it expects to reduce its headcount by another 20,000.
The oil service giant has announced the jobs will go as low oil prices and a slowdown in drilling were expected to continue into 2016. The size, location and timing of the cuts were unclear.
The layoffs are the latest sign of continued pain in the oil industry as oversupply continues to weigh on prices and cut profits for even the largest companies.
The company has already cut 20,000 jobs, or about 15% of its workforce.
“The latest leg down in activity has led us to again evaluate our staffing levels against expected activity. Following which, we will further right-size the organization based on the activity outlook for 2016,” said Patrick Schorn, Schlumberger’s president of operations.
“It has become clear that any recovery in activity has been pushed out in time,” he said during a speech in New York.
Rival service firm Baker Hughes has cut over 16,000 jobs, while Halliburton has cut around 18,000 worldwide.
Schlumberger said previously it would also be consolidating its manufacturing and distribution network as it does not expect a recovery in demand before 2017.
Earlier this year it was revealed Schlumberger would acquire Cameron in a $14.8billion deal.
Cameron International said it will also reduce its headcount further as the low oil price continues.
Cameron previously said it would be letting 150 staff members go this autumn. The company said around 75 jobs would go in early January next year.
Swift Worldwide Resources, a staffing agency, said last week that there were more than 230,000 layoffs globally since the downturn began.