Thread regarding Halliburton Co. layoffs

oh wow, so does that include Duncan too?

Out of curiosity, and this shouldn't be that difficult to answer. How did RES weather the headcount reductions from Q1 2015 to current? About how many people in RES were sanctioned? in whatever terms you know, for example facility, main campus, region, whatever. Let us know. We see all this gritching going on, add some metrics to it.

4txk - so you're pissed at the rank and file RES employees for choosing to work for RES? Do you realize how stupid that is. Again, RES management does what their bosses (ELT) tell them. I'm sure your boss tell his bosses to get f---ed all the time.

As far as mowing the grass...some years ago, Mike (mfg manager) in Duncan told RES to quit watering all their grass. He didn't want to pay the water bill. When that RES manager said he couldn't do it because the grass would all die. Mikes response was "Good. We won't have to mow it".

At HEI, they were to.d the same thing and let $250K of golf course grass die. I know you don't give a sh-- about that but a VP said to replace it all. So no...y'all don't seem to have enough sense to mow the grass.

One of RES' duties is to protect the value of its assets. It became abundantly clear that nobody else gives a sh-- about it.

When the roof leaks, everybody hollers for RES to come fix it. Then when they want the money to fix it, they can't have it because some a--hole VP wants the money to make his mfg numbers look good or refurnish the yacht or build new bunkhouses at the King Ranch.

Oh yeah, were supposed to tell them to get f---ed.

Don't get all pissy about having a department to take care of the things that other managers never took care of.

As said yesterday Jin call during results jeff millers stated the work force shall be rewarded with pay rise as also said some staff been waiting 3 years or longer long overdue let's not forget to get this back dated from 1st April tax year uk and finally increase due on offshore day rate.

As he said we are making money

And we were adding 2 crews on a couple of years ago when they walked in and said if you're over 40 go home, and we were forced to walk out. That's nice that the last quarter was great but what are we going to be doing next week?

Halliburton swung to a quarterly profit and handily beat analysts' expectations on higher demand in North America.

The company's revenue from North America surged 83 percent to $2.77 billion in the second quarter.

The world's No. 3 oilfield services provider's shares rose 2.5 percent in premarket trading.

Drilling companies are slowing down, and several companies have stopped operations so who knows it could be coming.

Dang, sounds like 4ced knows a little bit of sumpin.

3mes, as screwed up as it is for the RES management and regular employees, they choose to work for the group that are extorting the funds from he service PSL's.

So don't get so damn upset if we get upset at the wrong doings.

We have a bullseye to blame, yes, the executive management calls the shots, but RES is the patsies....

Some of what you say is true, just like 2geg tried to justify....... That is the brainwashing to make y'all feel good about f---ing the company over.

Doesn't make it right, and times like this, when oil prices are down and layoffs are imminent, cut the BS, like RES.

That's all anyone is saying. Cutting RES and stopping the space rates would save PSL's substantially.

Stop feeding us your b---s--- about how we can't manage to mow the grass or clean the restrooms or fix ac units, sell that sh-- somewhere else.

Ok, ok, the game is up but I swear the yacht, beach house and stash of cash in Swiss bank are all legit.

I don't know about the Swiss bank but the yacht, duck hunting place, fishing place, and deer lease are real. HAL spent around $250K renovating the yacht after they bought it. The deer lease at the King Ranch costs over $3M/year. HAL executives use the yacht. The deer lease is supposed to be for customers but somehow HAL executives and their families hunt various times. If BD wants to take customers hunting, the have to credit RES around $30K for the weekend because RES pays for the lease. I always found it really odd that HAL has a COBC that says an employee can only accept gifts of nominal value (like lunch twice a year) from contractors but feel perfectly fine doling out $30K deer hunts to customers.

-3mes, you should really make it a point to put more fiber in your diet, it'll do you a world-o-good. Smooooooth sailing baby.

So you mean that laptop I bought for a $2500 a down payment and a $350/month payment isn't a good deal?

Ok, ok, the game is up but I swear the yacht, beach house and stash of cash in Swiss bank are all legit.

3nfb and 3ytk - Everybody (including RES) knows that money is funneled to other things. Those directions always come from a senior VP (not RES) level or higher. The fact that they're doing that sh-- doesn't make it RES' fault. RES management does what we're told the same as your management and you do. RES doesn't get to keep a single penny of any overcharge. As I stated, RES sets a budget and the space rates are set to collect that amount. Then executive management comes along and tells them to slash their budgets but maintain the space rates. I guess you think RES management should tell the executive leadership team to get f---ed. I'm sure you tell you boss that every day. Again, not RES' fault. They would much rather cut the space rates when they cut their budgets. Not doing so makes them all look bad over something they can't control.

And 3fnb...I don't know how much you think you know about RES finances but I retired from RES after 40 years. I can promise you there's not a goddamn thing you can tell me about their everyday business or their financial structure. I know how space rates are set. I know the weighting factors that apply to every space rate. I know how they keep up with occupancy. Speaking of occupancy, RES doesn't charge anything for unoccupied space. If a facility budget is set with an occupancy of 90% and departments downsize or move out, RES quits charging for that space but has to continue providing things like electricity, HVAC, etc so that's a hit that they have to make up by cutting services or people. They never raise rates to compensate for a drop in space allocations. RES laid off some dead weight a few years ago and it sounds like you may have been part of that.

There's not a swinging d--k in RES that knows more about how their operation runs than I do. So you can shake your d---s and holler but you're fuller of sh-- than a Christmas turkey. Of course, ignorance never stops you jackasses from getting on your soap box and spreading b---s---.

This is the accounting practice that Dave Lesar brought to Halliburton fron Enron.

Way back, the space rates were intended to appear, to even out at the end of each fiscal year.

As with anything, money leads to greed, waste fraud and abuse.

They would like to have everyone think, that the space rates even out, and they defend their practice as 2geg tries to in the below post.

But, in reality, that is NOT the way it really works out.

As of today, yes, space rated do pay for the upkeep of the facility, utilities and such.

But the calculator that the corporate accountants use differ from the ones that typical RES employee and/or manager use.

They only let you view the financial reports that they want you to see.

But behind closed doors in the board rooms with the "mob bosses", that is where the real wast fraud and abuse are revealed.

And if you think for one minute that these people are not funneling these funds to their private accounts, well, then you live in LaLa land and have been brainwashed to believe that your RES is actually performing a service.

Y'all are just patsies......

3 million? is that all ? !!! Oh sure go ahead and throw away 3.5 billion dollars to fund your competition and then sacrafice others to CYA, but don't spend 3 mill to improve your own facilities? Bahhhh - haaaaaa - haaaaaaa - haaaaaa - Eeeeediots -

2geg, save that BS for someone that doesn't know any better. Yes, you are correct,smoke of the space rate funding does get funneled back to the facility.

But, I know for a fact, and have documentation to prove that there are millions that don't get back to the facilities.

So go tell your BS somewhere else.... you drank the coolaid and have been told only what you need to know about the funding practices.

As I said. I know the full accounting practices, how much is collected and where the other gets funneled to.

2wxf - You obviously don't understand Real Estate Services. The money they take in on space rates is the same money that the PSLs would be spending. Utility costs. Taxes. Property maintenance. Unless a VP tells them to cut their budgets but maintain the space rates, it pretty much zeros out at the end of the year. Hal found out what happens when they let BUMs control property maintenance. They don't fix things as they break because they want their numbers to look good. The ELT looked at several properties and asked why they were falling apart and environmental systems weren't working. It turned out that they wouldn't spend the money to keep things running. You might be fine working out in the Texas heat or Alaska cold under a shade tree but others prefer to have a comfortable, safe, nice looking place to work. If BUMs hadn't f---ed everything up, there wouldn't be an RES. So don't blame them because you couldn't take care of your own house. The manager at DBS (when it was on Illinois Ave) had to approve all RES expenditures and wouldn't let the RES guy fix the air conditioning as it broke. Then he pissed on RES for not keeping things up. At Everman Rd in Fort Worth...same story. They decided to sell the property but found it was going to cost over 3 million dollars to get it in condition to see. Once again, BUMs controlling maintenance expenditures. They had already announced they were selling the place so people started quitting. Then, the ELT didn't want to spend the money to fix it so the hired as many people back as they could. Then the ELT decided to fix it up and sell it so everyone got laid off or transferred. Long post but again...if you could wipe your own a--, RES wouldn't have to do it for you.

Pretty glum around here on a Friday afternoon; I'm thinking I'll see red folders on Monday.

Just stay out of the way of the real workers when they are getting laid off....... that all I have to say.....

RES rocks! RES! RES!

Just remember this.... all you piss ant support service groups, ESPECIALLY REAL ESTATE SERVICES...

You are here because, WE, actually have a job function.

We are not a parasite on the payroll

You support groups, ESPECIALLY (Real Estate Services) are overhead that can be wiped off our a-- and flushed down the toilet and we wouldn't even miss you. As a matter of fact, it would be much more cost efficient to not have you on the payroll at all.

Same goes for the other crap such as the overpriced cafeterias, gymnasium, milk rooms, etc.,....

And yes, we would be more profitable by not having to pay the damn space rates and all this BS.

There is a big problem when fick wads like you are walking around doing nothing and getting paid by our space rates. And especially when you want to boast saying that yall are hiring and act like yall are untouchable.... well, you should feel the sting of layoffs due to the non-productivity, arrogance and overpriced so-called services that you think that you provide. You dont provide diddly, how the fock can you say that you provide us with any darn thing, you operate from our space rates. it's like giving our children an allowence and then they turn around and think that they are doing us a favor.... yall need to be gone!!!!!

You have no function, you are not profitable, you bring no value whatsoever to the business units, YOU ARE OVERHEAD and should be cut.

We have procurment and people that can call contractors to mow the lawn, clean the toilets and make sure our facilities are operational. There are contractors out there that do that very well. Baker Hughes uses CBRE our other competitors use JLL and they don't cost 1/10 what we pay out of our space rates.

RES are the biggest crooks, money laundering, lazy bunch of retards that i have ever seen! We can hire the three stooges or the keystone cops and get more value and they would do a better job.

Real Estate Services.... Y'all are a joke!!!!!!

It looks like SLB, BHI, CVX are going to downsize too.

If HAL is going to permanently downsize, RES is going to have to raise the rates to maintain their current luxury lifestyle.

I'm stuck in Folsom Prison

And time keeps draggin' on

But that train keeps a-rollin'

On down to San Antone

I cannot understand why there should be any more people losing there jobs.

halliburton has turned around industry is picking up taking on staff due to wok load.

oil price is steady as showing on industry investment.

If any thing has to happen on Monday 24th July it should be Pay Rise as long awaited

Make Halliburton Great Again. LOL

I read the latest interview with Miller. My thoughts? I'm so f---ing glad that I retired. Hearing all those corporate catch phrases and key words is almost enough to make me hurl. I do empathize with the employees that are still there but on the other hand, I lived through the same stuff since Project Go and nobody was worried about me. So s--- it up buttercup. Walmart is always hiring.

HAL is doomed. Pay rise is pie in the sky and massive layoffs are on the way.

You are all nuts. Did you not get the memo that we are all getting a long overdue pay raise effective August 1st. They would not be currently hiring 1,000+ people if they were gonna then turn around and lay thousands of people off. What even remotely intelligent business would do that? Quit trying to scare the weak minded that read this website. We are still the solid 2nd place oil field service company. This website used to actually have good information but it's become a boring cesspool filled with bitter people that should probably not be working here anyway.

This is baloney. HAL is finished and going downhill fast.

IF this comes to pass, it will be interesting to see the ratio of management, to field employees, who are terminated.

It has to be pretty bad, when #3 Halliburton can't compete with the fourth and fifth tier service companies, because Halliburton has NOTHING innovative to offer.

My guess is that the number of FIELD employees laid off will be in the 4-5000 range, but DO NOT worry , if you are one of the affected, EVERYONE else IS hiring.

Okay it makes more sense with punctuation. Oh, that is bad.

Let us clean up the original title grammatically. And read as, "Halliburton announces plan to retrench. Massive layoffs planned". Now we shall consider the possibility of a comphrensive 2-part plan to reorg the company, assets and human resources. This may be driven by the new status amongst its competitors or simply reaction to the new world order. Bottom line is keep your head low, stay focused on your work and maximize your efforts. The job you save could be your own.

Do people at HAL really know what they're doing. Doesn't seem like it.

So, what you are saying is ? OKC is going to be permanently shut down? Did i read that right ? Layoff good , retrenchment bad ? Also avoids any of that severance payout nonsense. Interesting, i like it.

Definition of Retrenchment

Retrenchment is to reduce the amount of corporate expenses. When a company/firm implements retrenchment, it cuts off or minimises all the unnecessary expenditures, usually by cutting back on the diversity of products or services it offers and often reducing the size of its company by closing down some of its offices that don’t necessarily mean a reduction in a company’s workforce.

It simply means termination of employee’s services, because of replacement of the worker by machines or closure of the unit due to the lack of product’s demand, produced by the unit. In retrenchment, the termination of services of several employees takes place where they are sent to the home and their connection with the organisation are completely and immediately severed.

Read more: http://keydifferences.com/difference-between-lay-off-and-retrenchment.html#ixzz4nN22pPBy

Definition of Layoff

To layoff is to temporarily or permanently terminate or get rid of the staff / employee. This is usually done by a company / firm on account of a business slowdown as a result of which there is insufficient work to be allotted to an employee who is registered with the establishment and who has not yet been retrenched.

It is Suspension or termination of employment (with or without notice) by an employer or management. A company layoff involves the cessation of employee benefits such as salary or wages. The laid-off employees are paid laid-off compensation. All of the laid-off employees should be taken back in their usual posts, as soon as the layoff lifted out. It may be due to, one of the given reasons:

Shortage of raw materials

Economic recession

Breakdown of machinery

Accumulation of stocks

Read more: http://keydifferences.com/difference-between-lay-off-and-retrenchment.html#ixzz4nN1m3Rqc

The biggest difference between layoff and retrenchment is that layoff is volatile in nature, i.e. employees are recalled, once the period of layoff is over while retrenchment is non-volatile i.e. that involves full and final termination of services.

Read more: http://keydifferences.com/difference-between-lay-off-and-retrenchment.html#ixzz4nN1860uK

This fits right in with the post which mentions July 24th, as a day to watch.