Thread regarding Weatherford International Ltd. layoffs

Anyone read Bernie's memo on March 15?

I trust that most people have seen the email Bernie sent out on March 15, 2016.

He really needs to have someone proof read his memo's, or lay off the scotch while writing.

I'm still trying to make sense of "There's no point here and now arguing this is unreasonable, destructive even and will be short lived given the thin spare capacity in oil production. All statements I agree with"

He also needs to look up the meaning of "punitive".

I expect significantly better communication from a CEO. However, this memo is a good example of his leadership of Weatherford; full of scattered thoughts and unclear vision

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| 1851 views | | 7 replies (last March 18, 2016) | Reply
Post ID: @OP+Gr4jaVW

7 replies (most recent on top)

He gave himself a pay cut. Well good for him, the cake eater. The whole notion of this guy alerting the entire organization of his noble and generous but probably less than 1% pay cut gesture is as repulsive as the lords of douche-baggery he has running the place

Today I told my kids I took a dump in an effort to inspire them towards weight loss, and created a FB post on why I'm such a cool mom and told all of their friends to sacrifice.

Coincidentally, Bernie plus 1'd the post!

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Post ID: @2auu+Gr4jaVW

His salary is only 12% of his total compensation if you look at 2014. So really he gave himself a 1.2% reduction in total compensation.

http://ir.weatherford.com/cs/wft_investorrelations/doc/2015-proxy-statement

Pg 44

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Post ID: @1gio+Gr4jaVW

He gave his self a 10% pay cut but just recently gave himself a 14% pay raise. My math says he is still in the green. Drink the kool aid if you want

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Post ID: @1gbe+Gr4jaVW

Why not organise a global or US down tools for a day to protest against this guy

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Post ID: @1fwk+Gr4jaVW

My favorite part was him giving himself a 10% pay cut. Most at my shop received a 20-33% pay cut. Strong leadership right there.

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Post ID: @1pmq+Gr4jaVW

I too was a little confused when I read that part. It was bizarrely worded.

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Post ID: @oqn+Gr4jaVW

he was smoking Cuban crack that day - another one of his expensive habits

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Post ID: @dhi+Gr4jaVW

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