Eric stated yesterday that: "The new approach reduces our own operating cost....the new structure eliminates duplicative support functions and places key technical and operation functions where they can be more efficiently shared across the Company." This can only mean staff reductions for some duplicate services. Yikes.
Then there's this about what happens after the failed merger: "Halliburton, for example, held onto office support staff — lawyers, accountants and middle managers — and some assets in the field that it would need to manage a larger business....analysts expect the companies to first make cuts in the these areas." Da^^n.
And the Integration teams, what about them? How many will go, how many will stay, and will taking them back into the company mean replacing others who will be let go? All is looking to get very interesting around here real soon...
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