Thread regarding Halliburton Co. layoffs

FROM NOW ON IS DOWNHILL FOR HALLIBURTON

Do you really want to continue working in a dying industry? Halliburton may deny it and tell you that there is plenty of oil blah blah blah. That's the problem. There is too much oil and the industry has become too unstable. Seems like every two years there is new downturn. In the meantime count on no raises, no CV bonuses and more excuses from upper management saying things will get better next year. Just like they denied global warming and now they are trying to portray themselves as environmentally friendly company. The boys in the board only care about their fat pockets. You want to better? seek training and move on to a better industry.

from Bloomberg:
"BP will sell oil and gas assets to fund its ambitious low-carbon strategy even if prices improve, three unnamed sources told Reuters.

A tenfold increase in investments in low carbon businesses to some $5 billion annually is among BP’s new strategic priorities for the next ten years as the supermajor shifts away from its core business and aims to become a net-zero company by 2050.

In addition to the sizeable increase in low-carbon investments, BP will also suspend all future oil and gas exploration in new countries and shrink its production of hydrocarbons by 40 percent by 2030, chief executive Bernard Looney said in a LinkedIn post earlier this week."

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| 2211 views | | 6 replies (last August 16, 2020) | Reply
Post ID: @OP+16lIw7F1

6 replies (most recent on top)

Mark Richard will be the death of this company.

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Post ID: @8blf+16lIw7F1

The company will never diversify due to poor leadership. They're toast.

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Post ID: @4xch+16lIw7F1

Please don’t use the W...O...R...K word!!! Cupcakes are offended and it makes them sick. They’re all home watching Dr Phil in their jammies.

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Post ID: @2chg+16lIw7F1

Years ago Halliburton was an oilfield service company. From top to bottom oilfield people that came up through the process, not bean counters nor failed GE management. Seldom were there lay-offs. People were held accountable. No processes to follow. Working 10 hours a day six days a week was normal. People were proud to work for Halliburton. Engineers designed, built, tested, and field tested tools. No 3rd party designers. No design by committee nor process.

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Post ID: @2afx+16lIw7F1

I understand these message boards’ purpose is pretty vague, but I generally thought it was for folks to share information about layoffs, severance, venting about downturn impacts, etc.

I’m not too sympathetic to some IT or electrical engineer who worked for Sperry for 3.5 years after college, who has never seen an actual drilling rig before try to justify why they got laid off by railing against the entire oil and gas industry.

There are definitely supply/demand issues and renewable technology trends that will challenge oil and gas over the next 30+ years as it shrinks. The oil field service industry is absolutely going to look very different in 5-10 and 20+ years from today. However don’t act like you saw the light and intentionally changed industries because of articles you found on LinkedIn. This is one of the most severe downturns ever and definitely the quickest since the 70’s. There is no shame in being impacted by a service industry that just shrunk 70%.

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Post ID: @1ppr+16lIw7F1

Halliburton Lab is going to save the day. Already gave one client, some ex-Hal guy. Makes me laugh.

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Post ID: @map+16lIw7F1

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