More layoffs in Houston as they look to shed several million dollars of payroll. Also, they are going to be cutting all contractors to save on that expense as well. All roles will begin to transfer to Colombia, Romania, and India.
Funny how Forbes and all other financial reports talk about what great shape SLB is in now and for the future. They have no idea.
Waste of 20 young careers
The BOD is restless. Prepare CV.
This is new trend. Replacing expensive people with new hired cheap.
More than 20 engineering fresh out invited to second interviews in SL...SLB actively recruiting after letting go so many experienced people...
Crap company full of backstabbing liars, thieves, and frauds. The biggest criminals only allowed at the top.
Stay away from it!
Facilities managers, production managers, manufacturing managers. technical managers, supervisors, team leaders and on and on and on. Schlumberger has way too many made up positions and it needs to look carefully at this terribly bloated structure. Some "managers" have only one or two staff or even none...but they still gathering their PIPs every year.
Dji, well said.
Still too many managers, principals, and advisors pretending to be important assests but actually making no real contribution. Surviving with connections is their only expertise.
If they really want to shed several million dollars of payroll, the solution is pretty simple. Just cut those greedy executives' compensation! These s---ers have been enjoying pay raises every year while other employees have been always scared of layoffs and living off without PIPs. Now they complain about low engagement and low morale? It's pretty obvious where the root cause is!
Still has to layoff more unfortunately, sad but slb is been unable to take advantage of the market and clean up itself from mafia.
What is left now are well connected people only.
Why sis has IT people!!! I still don't know.
Senior and several in on location!!! Doing absolutely nothing.
It's a house of cards. If one owns millions and billions in it, they surely want it to be represented accordingly to their benefit. This company has an asset value of less than $20 a share; publicly available. Anybody who knows anything about their kind of business is fully aware that these assets they declare are not worth the scrap value at best to anybody else. Ageing inventory that would otherwise move and become revenue. It's a service company. It's true assets are people. They're the ones that make the money for them. Without people you cannot do very much in OFS. They know that and do their best to get away from it. It's a financial company that generates profits from leveraging money paid for labor services on a huge scale. It's a big one with a big blue name marketed heavily. But it's not much more than that.