https://www.rigzone.com/news/schlumbergers_yearend_frack_forecast_is_a_lump_of_coal-4-dec-2018-157639-article/?utm_campaign=WEEKLY_2018_12_07&utm_source=GLOBAL_ENG&utm_medium=EM_NW_F1
3 replies (most recent on top)
No body will get fired...this is Schlumberger. They will hire 100 people to develop a program to fix the oversight,
.... ah but it is not top managements fault....
they empower the sales teams to achieve forecast... expect your S&C team to have their asses on fire, as this can only be an S&C failure to achieve what was expected....
So the top management in Schlumberger did not see this coming in spite of being repeatedly warned that there would be too much oil for the foreseeable future. With the share price at a 10 year low a culling of all PIPs and non-producing managers of Schlumberger woo should be priority.