State your name and work location. Also how many hours of real work youre completing a day. Keep soaking up that checkbook until you're axed
Benbrook manufacturing
6 cut this morning at Benbrook manufacturing facility. Likely more to come.
AXED / Corp Officers
They are now axing corp officers. Paul Timmins was axed
AX to fall on Houston 2016 WFT office leases
I heard today that an urgent and complete reassessment of office rentals throughout Houston is underway. They are looking to either renegotiate terms with landlords, or do aggressive consolidation with layoff clauses they had negotiated with the... — read more
Ignore Oppenheimer; Weatherford's Bonds Scream 'Bankruptcy!'
http://seekingalpha.com/article/3813916-ignore-oppenheimer-weatherfords-bonds-scream-bankruptcy
If you drive down Business 20 in Odessa there are probably 100 Wft frac trucks in the H and P yard
Is that to hide those from Corp or because you ran out of room at the yard
List of Bankrupt Oil and Gas Companies - 2015 list but including some from 2016
Oil and Gas Bankruptcies List (2015 and 2016) 48 companies folded so far, $17 Billion Dollars in Loses - here is the list: @FVdOlco
Laid off last year, up for rehire to replace the position I was replaced over...
This is going to make alot of sense. I was an Admin that got laid off. Replaced by another admin from a closing division then she was let go. That left 2 admins at that location and then one left a few months later and now the other gives 2 weeks... — read more
Weatherford International's Earnings Show the Company Meeting a Managment Goal ... Sort of
http://www.nasdaq.com/article/weatherford-internationals-earnings-show-the-company-meeting-a-managment-goal-sort-of-cm578405
Odessa laid off 25+ frac employees (EOs, SS, FS, Engineers) Close coming soon.
Hit with 2 million dollar fine last week. Reinspection is scheduled for 21 days with a possible 2 million dollar fine again. There is nothing but San Antonio crew left to hold on.
Broussard
3 layoffs in Broussard, LA
Layoffs in Kingwood tomorrow!
Too many people just sitting and staring at their computer screens all day.
Bakersfield CA
Any shops in Bakersfield closing down?
99 Cent Gas May Be on Its Way
http://247wallst.com/energy-economy/2016/02/09/99-cent-gas-may-be-on-its-way/
Mounting debt catches up with U.S. oil producers
http://www.dallasnews.com/business/energy/20160209-mounting-debt-catches-up-with-u.s.-oil-producers.ece
BP's Stunning Warning: "Every Oil Storage Tank Will Be Full In A Few Months"
http://www.zerohedge.com/news/2016-02-10/bps-stunning-warning-every-oil-storage-tank-will-be-full-few-months
Long time workers
Was there nearly 2decades got axed weatherford will go bankrupt out with the old keeping the young and dumb that's seems to be what's happening
Ampscot Nisku Canada
More layoffs, hearing about wage cut.
Weatherford does come with an unimpressive track record of blunders, poor execution and scandals.
http://seekingalpha.com/article/3880306-q4-earnings-results-weatherford
Anadarko Slashes Dividend By Over 80%
http://www.zerohedge.com/news/2016-02-09/anadarko-slashes-dividend-over-80
With debt/EBITDA approaching 7x, Weatherford is in dire straits.
http://seekingalpha.com/article/3875706-weatherford-additional-capital-costly-shareholders
Layoffs at JFK in Houston, TX
Visited the JFK office last week for a meeting and noticed not a single manager was present. How are managers still around and taking vacations and leaving all the employees to pretend to be busy? After talking with a few of the staff there no one... — read more
North Dakota's Economy Has Been "Completely Devastated" By Oil's Collapse
http://www.zerohedge.com/news/2016-02-05/north-dakotas-economy-has-been-completely-devastated-oils-collapse
Weatherford under investigation for falsifying financial results in Q4 by cheating the books again.
Fraud charges are imminent.
Weatherford International Plc Stock Soars on Fourth-Quarter Results - The joke is on the 6000 RIFed workers
http://www.nasdaq.com/article/weatherford-international-plc-stock-soars-on-fourth-quarter-results-cm575072
More layoffs
http://www.bizjournals.com/houston/morning_call/2016/02/weatherford-to-cut-thousands-of-additional-jobs.html
In addition, as we continue to face harsh market conditions, we plan to reduce our cost structure by effecting a further headcount reduction of
In addition, as we continue to face harsh market conditions, we plan to reduce our cost structure by effecting a further headcount reduction of 6,000 which we expect to have completed during the first half of 2016. We will also close another 9... — read more