OLP “Cleanup on the way! North Am.”

A wise man said “the company would resize its North American onshore operations, which had grown under Kibsgaard... Schlumberger will exit unprofitable businesses... We are setting an ambition to more than double the contribution of our digital businesses within the foreseeable future.”

A wise man meant “we no longer need b—s— in North Am. BS is costing us a lot. Cut on all the useless layers of management, all the BS projects with no foreseeable return, Schlumberger can no longer afford to pay you because you are the friend of a friend of a friend of someone. The future is digital...”

One hiccup, there is no mention to the one or two top down layers of digital that are somewhat useless...

The stock went up 4% after this was announced.

public news: https://www.reuters.com/article/2019/09/04/us-schlumberger-outlook-idUSKCN1VP2I1?utm_source=applenews

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8 replies (most recent on top)

Well the yay sayers need to go. Especially the ones that said yes with Paal and say yes now.

Like Steve Jobs did when he returned to Apple, got to grab the bull by the balls before returning to profitability!
(Arriving at the SL parking garage now, I have to reverse park FFS, logging off)

When security is strapped, you know it is for real.

DIgital future is not a silver bullet either... It takes a lot of software development effort (time and money), and it's not gonna be all rosy. There's a lot of layers and yaysayers and naysayers in the one or two levels of management that's gonna manage all these digital cloud, AI and machine learning initiatives. I'm sure there's gonna be some scurrying there when OLP's ax falls.

I am not in NAM but I don't rejoice about what is going to happen. Hundreds of careers disrupted just for the delirious "vision" of the blonde id–t who could not even visualize his own pr*ck!

Curse on you Paypaal... now I understand your nick.. so many are going to pay for your imbecilic moves... starting from Cameron (purchased at a premium after the Macondo blunder and right at the beginning of the most serious downturn in history) to all the back and forth in NAM (buy-sell-no wait ally with Wtford, no wait idle crews, no wait buy some more 400millions of pumping equipment... etc.) to the crown jewel of SPM: hundreds of millions to fund field developments of deadbet customers in central america banana republics.

It will take years a ton of money and some blood to rescue slb, assuming is not too late.

That purchase did not bring anything to SLB see FMC being spun off again. SLB take note.

What about cameron slb?

He basically said, 'if you work in Wireline or Well Services in NAM, you should start thinking about a career in solar panel installation or designing new car batteries for EV's. Everyone else, their focus will be on assisting engineers in Beijing in designing AI and Machine Learning technology to make their positions obsolete.'

Thread regarding Schlumberger Ltd. layoffs

OLP “Cleanup on the way! North Am.”

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