If the economy turns around, do you anticipate any Schlumberger layoffs? Any chatter, news or rumors?
52 replies (most recent on top)
When?
Well, whoever said “30%”, he/she has good inside information.
VP’s were told today.
Lots of big g-ns are out.
Consolidation of geographies, and functions.
“ Layoffs are not happening tomorrow. Just an announcement”
Nothing to see here…
Layoffs are not happening tomorrow. Just an announcement.
London calling
November head count number minus 3%. This should have been done by now.
Re-org: First draft was rejected by the board. White paper on those details was found on printers. Comment shared “looks bad to investors. They will wonder ‘do you know what you are doing with constant re-orgs’ ”
Draft 2 was accepted but details are not known below the highest echelons. Even BL VP’s are in the dark or so they say.
Only real detail / rumour is that GM’s / Geographies will be consolidated and hence HC will be reduced through merging of positions / centralization of roles.
You mean the announcement will come from Sugarland on Thursday?
I heard it's Thursday in Sugarland.
Layoffs are coming — Digital brace yourself. Houston? E2E?
Will younger or older workers get affected the most?
Yes I heard the announcement will be next week and it’s more like a 30% reduction of the total workforce through centralization. The company has added a lot of people throughout the up cycle in order to drive revenue growth. Now when market is plateauing overall and even declining in many areas, the workforce needs to reduce as it’s less effort to sustain revenue. It’s also a matter of following competition which is way ahead of Slb in this regard. Will this reorganization keep the stock up?
Big reorganization to be announced next week( 2nd week of December). 10% HC reduction confirmed across the board even for RP. Some cuts will start before the end of the year and will continue until Q1 2025
Is Alice still there