As per today's memo most of Weatherford Canada employees will have to take one unpaid leave day every two weeks for the entire Q2 and Q3 (at least) which equal to 10% cut of workload and pay for this period. And guess what, layoffs are not over yet in Canada!
8 replies (most recent on top)
72980 totally agree with you. Bad time to be looking. stick it out until you get layed off and hope you get a severance package, not saying there will be one by that time. once things pick up than start looking for a place that doesnt layoff every year.
the money they are spending on severance isnt getting them out of debt. Its just puttingthemin farther
@Anonymous73086 - It IS March....
If the furlough saves a few from getting laid off, that's great. It's a lot better than no job! This is not a good time to be looking for work. Don't think layoffs are done though, figure we will get hit again in March.
Anonymous72966 I can take 2 more years at weatherford. By then oil will have rebounded and jobs will be easy to come by. Right now isn't the time to be job searching.
People....wake up! It's a smoke screen given that Weatherford will be bankrupt in 24 months. Just google NYSE and Weatherford going bankrupt.
We had furloughs once, that's better than having layoffs, unfortunately some people can't make it on such few hours, another way would be to go to 4 days a week, that would help the working group save money on gasoline and wear and tear of their automobile and they could get a part time job until the oil patch is repaired. I sure hope Weatherford stock goes up soon as I have really lost a lot of my 401 K 'retirement' plan. Good wishes to all that are having to go through this it reminds me of the 80's, oops, did I tell my age, well it happened in the 90's as well; now we can add 2015.
Yikes
Can you post the memo here?