The Houston-based independent employs more than 15,600 people worldwide, according to its website, meaning the cuts will affect around 936 employees.
The biggest impacts will be on the company's North America operations, spokesman Daren Beaudo told Upstream.
"We'll know more in the next several weeks as we work through our formal process," he said.
As many as 300 of the layoffs will come from the company's Canadian operations, most of which will come from its offices in Calgary.
