WTI remains in $40s/barrel, and most of the oil companies are preparing for the low-forever scenario. This is definitely NOT just a cyclical trend that you mentioned in the last earnings conference call. As of 8/13, SLB stock is $63.83/share, which is similar to the bottom when the oil price was $20s/barrel in 2016.
Where is this company headed? What's your vision for the company? Do you have any solution other than complaining about the situation?
At the top why would you recommend the company to buy back stock? A good investment, growth potential I assume?
Why would you sell your own stock? You believed the stock value was high and it would drop I assume?
So what was the basis of the buyback over the last 2 years?
Then why do all these incompetent s---ers get millions of $$$ while employees and their families are becoming the victims of the facking situation?
True visions and directions don't exist in SLB. Only lip service, s---ing up, and backstabbing define the company now.
SLB has the mind set that employees take care of management, and employees will take it or leave. Watched them let go 15-25 year employees from SMITH AND M-I SWACO just to save certain managers and move SLB legacy employees into to those positions, even it almist all cases tge SLB employee had no idea what to do. Amazing to see SLB employees asking on LinkedIn, social media, blogs etc. How to do thier job. Really, sending a wireline operator to a rig as a mud engineer just seems silly, especially when you let go of experinces employees. Layoffs come and go, yet don't destroy great companies to keep bonus and egos pumoed up. Why is reputation, stock prices, market share and customer's confidence dropping for SLB, I think stock holders and customers need to look at SLB's top first. Destruction of companies taken over, removal great knowledgeable employees just so they can take multi-million dollar bonuses.
that share price does look bad very bad. So what next a share buy back or more layoffs ?
Survive , out perform your peers is all you can do, slb love that comparing folks.
Now they look at the cost of each individual and ratings... stopping at board level obviously as the value to performance compared to cost does not measure up.
Swallow the transformation pill as well helps ... I cannot stomach it gives everyone indigestion.
The top management guys started selling their stocks in the market in the Huge Number, that means they will be out soon and the company will be also out...out/out situation