** Oilfield services provider SLB's SLB.N shares rise 2.1% at $42.06

** Company to lay off employees and reorganize specific functions within its business, according to a source familiar with the matter and an internal email seen by Reuters

** SLB did not specify the number of workers who would be laid off; it employed roughly 111,000 people as of February 2024, according to a filing

** Reorganized functions would be in place by the end of the month and personnel updates would be out by the end of the quarter, said the source

** SLB had been restructuring in the past year and took $237 million in severance charges in 2024

** Including session's moves, stock up 9.53% YTD

(Reporting by Katha Kalia)

((Katha.Kalia@thomsonreuters.com))