There were several layoffs today.
Looks like they are still ongoing.
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Majoriry of 2017 contracts in slb are inter segments contracts with no actual value to ofs. When ofs isnt able to bring in new contracts, pocket to pocket transfers will drain
100% correct. Instead of the Chinese fire drill why not go ahead and cut workforce to adapt to new revenue figures. SLB can call them back anytime they want and they will come running.
There was hope late 2016 which NAM growth by 30% will help slb and slb will have its own share of this growth. Of course majority of contracts were already awarded to legacy NAM player,HAL....
Only few left over dirty jobs given to slb.
Majoriry of 2017 contracts in slb are inter segments contracts with no actual value to ofs. When ofs isnt able to bring in new contracts, pocket to pocket transfers will drain.
Software segments still profitable but they have been having difficulties to catch up with competitors mainly because of poor competency and lack of technology obsolescence process.
Oil is not bottomed yet. Wait for it..
Which location?
How many?
ITT will be hit very soon, be ALERT
Halliburton is on a hiring binge. Tells you all you need to know about the direction of both companies.
Slb only interested in young recruits on low pay. That's the business model for low oil price so senior people get kick out to make way. It's a jungle out there.
They might feel sad now for losing job but guaranteed they will feel happy soon after.
it was several groups around slb, a few people from each group from around houston.
Are they closing the Richmond location? Where are they layoffs taking place?
it will continue until SLB become extinct