There has been rumor of teams of cost analysts going around to different locations, within the NAM region, to determine whether or not the cost of operating is necessary or if closure would be beneficial to the company. It's been rumored that there may be some closures. Does anyone know of this or heard anything similar?
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Closed Pratt Kansas office about a month ago.
This post actually sounds like someone who knows what's going on.
Yes there will be some closures of all businesses. Assume if there is more than one that the logic is that one Or more can be shut down. The belief is that things will be bad for over a year. Bernie said we must be cash positive. That will mean stopping the cash bleeds at these sites and consolidating where things can be. They will have to close Houston offices.
Right now they are cutting at the front lines and I heard some of the Houston support positions. Once the front lines are cleared it will trickle up. HR will be next to go as well as mid level managers and further cuts at Houston. There will be some mid manager level moves in preparation of rightsizing management.
My impression is to cut extremely deep and then add people back in if it was too deep or demand increases. There is also implied messages that people will take on extra work and not say anything because they will just be thankful to have a job.
The sales pitch to the investors is that we are making our business lean so we will be more efficient when things turn around. The reality is that we are near bankrupt and need to conserve cash. The end goal is to prop up share prices so Bernard and company can cash out.
I heard that Greens Rd was cleared out not too long ago in Houston, but I'm unsure if that is factual. Anyone hear if any of the facilities will be effected at all in NAM? Manufacturing or repair and maintenance?
I'm curious if they will close some of the office buildings in Houston.
The fishing and rental yard was closed in Denver City texas
They closed down the Woodward,Ok yard last week and sent the Frac equipment And Eos to El Reno yard.