Since the downturn started in 2014, SLB management began company-wide transformation, numerous mergers & acquisitions, joint ventures, and external consulting contracts. While so many employees lost their jobs due to massive layoffs in the name of cost reduction, the management spent a lot of money on these expensive re-organization and new initiatives. After over two and a half years, what are we getting from them?
13 replies (most recent on top)
We gain alot, manager with bigger mouth, worker gain more work and same wage, our lady got bigger ....., and coworker got greatter fear to be backstabed. Great achieve!!!!. Well done.
I'd do it again to if ya keep up yer whining!!!!
@P4TZZyX-1wif was it 1) a woman? 2) french speaker? 3) Lebanese? Or a combo.
He isright, this is service company, a place for accommodating useless low selfsteam people who couldn't get job anywhere else. Once layoffs are done you will see only jerks and a--holes left.
Why do you keep saying that all the oil companies are equally bad? Are you programmed to say that, HR robot?
All oil service companies are as bad as each other. Don't expect much from them.
A company where failures are rewarded. A finance manager who flunked the outsourcing to accenture was rewarded and promoted to become a product line controller.
Protected people called untouchables. They are the favourites.
SLB top management is living in their own La La land.What usable principles would you expect from them?
The results are...
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Beaten-down stock price of $63/share
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Probability of bankruptcy = 35% (https://www.macroaxis.com/invest/ratio/SLB--Probability-Of-Bankruptcy)
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Horrible morale in every office
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Backstabbing and favoritism
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Ridiculously well-protected idiots with no real contribution
Cameron acquisition has been a huge benefit for SLB.
What we found is SLB has no knowledge of engineering design and manufacturing operations. They got a lot of good people and knowledge by buying cameron. From what I see right now, it is the Cameron people who are doing everything to improve SLB products and services. Seems like SLB just did not have these kinds of people.
But the transformation, engage to excel are just huge time wasters/distractions. Every minute we spend on that pointless stuff is a minute taken away from doing real work. When are you already putting in lots of overtime, then things like engage to excel dumped on you just very discouraging.
The worst part is people are not even following the main principles the CEO published, some departments are at war instead of being collaborative. Like they think if they stay abrasive then they will keep their jobs. There are still plenty of morons that need to be let go that are not team players.
A survey of former employees, whose livelihood no longer depends on toeing the party line, would yield far more interesting results. If the exec suite wants honest answers without the filtering imposed by fear of job loss and is brave enough to take some criticism, they might actually learn something.
Transformation, engage to excel, Cameron acquisition are some examples of epic failure and waste of money and resources. Whoever came up with these ideas should be the next target of layoff already. As talked in the last earnings call, the management is still trying to borrow money for more useless joint ventures. SLB became a deep pocket for companies like IBM and accenture etc. What did we really get from all these? Well, I guess it doesn’t really matter to our executives and board of directors. They got more than a million $$$ pay raise a year, no matter how sh--ty the outcome was.
jack sh--