Cameron Lives Matter - I hope that there are no layoffs as a result of SLB buying Cameron. I've known plenty of people that have worked for SLB and they all thought that it was a great company to work for.
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Guess what? SLB lives matter too! Most of us are not thrilled at this news. There will absolutely be reductions. Some will come from the Cameron side, some will be from SLB. Cameron survivors will be coddled and babied for a year or 2 during the upcoming transformation/merger/integration... whatever phony warm and fuzzy Hallmark greeting card term SLB wants to use for "acquisition". B/C that's what we did with Smith a few years ago. Then it will be a rude awakening when you are fully part of Big Blue. Not sure how Cameron has been run, but @ SLB you are most definitely a number. Make sure you get at least a "B" rating on your performance review, avoid disciplinary action, and don't be a completely insufferable ass and you may have an opportunity to stay on. Anything less than a "B" rating puts you at risk, being behind on your training (even if you have no time to get it done, classes have been cancelled, whatever.... doesn't matter), if you are an Exempt employee you better be able to relocate, if you don't have a good relationship with your manager.... figure out a way to become their BFF. If any of these are problem areas, you will have a target on your back and you better to pray to some higher power that your boss (for however long they are around) has got your back and will fight to keep you. I have recently seen very good SLB employees let go. Field positions are not safer... and in fact that's the first place they cut. At some point (maybe not today, maybe not tomorrow, but someday) your boss will be asked for a "list of names". You do not want to be on that list. Ask Kibsgaard to at least take you out to dinner before he screws you.
Seems most of people do not know how we works. SLB and Cameron basically work in 2 different area. Layout of non-technical employees is understandable. But if you talk about firing technical leaders and engineers, then there is no one in SLB be able to fill the gap. That is because SLB does not do wellhead and Chrismas Tree Jobs!
95% of upper management and 90% of middle management will be gone. Along with 90% of non technical staff. Face the facts this is going to hurt. Especially since there are no other jobs out there. Like I tell my girlfriend grab your ankles and lube up because it's coming in. 😄
Two things to think about. One is the current business climate dictates a reduction in force through out the organization. As the operations groups get laid off then the supporting groups have to follow suit. Two, Schlumberger will most assuredly layoff areas of duplication. The operations folks will fair well if they make through the market downturn between now and deal done. The next step will take 3 to 6 months to fully implement and that will be another RIF to compensate for all the overlap and this will hit the executive, upper level and mid manager level hard as well as their teams. Its not personal it just feels like it. We are in new territory, oil has become a low margin commodity and business has to adjust.
Two things to think about. One is the current business climate dictates a reduction in force through out the organization. As the operations groups get laid off then the supporting groups have to follow suit. Two, Schlumberger will most assuredly layoff areas of duplication. The operations folks will fair well if they make through the market downturn between now and deal done. The next step will take 3 to 6 months to fully implement and that will be another RIF to compensate for all the overlap and this will hit the executive, upper level and mid manager level hard as well as their teams. Its not personal it just feels like it. We are in new territory, oil has become a low margin commodity and business has to adjust.
SLJ officials thanks giving celebration will be with their Cameron division just to check how many of the employees can send their resumes to some other companies and they will also help in building the CV for you........until then have a deep breath
what are you smoking?
100MM from cost of debt reductions, some from the tax differences and a fair amount from layoffs.
Double managers, double VPs double HR hahaha now it's their turn. Cameron was a crippled up, broke down, ran by moron company.... Prime picking...well played Schlumberger.... Well played.
"Synergy" = duplicate functions = $ saved by headcount reduction.
Face the facts.
It was directly stated in the press release that they intend to cut another $300M in the first year. Hope all you want. Its happening.