Q1 employees got there notice there last day is the 10 of February. Severance packages 1 week of pay for every year. Facility is closing and moving to Fort Worth.
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Yes, I’ve heard of tariffs. I doubt tariffs on NOV products manufactured in Canada would move the financial needle enough to matter.
It’s all about control.
And it’s not just Canada. I’ve seen the same control rules with Mexico, South and Central America.
Houston knows best.
You have heard of Tariffs, yes?
Such arrogance from NOV corporate here in Houston thinking they can engineer, design and build things better in the U.S.
It's a shame for you guys up North.
Over the years the same thing has happened with Canada HR, finance and safety. Houston knows better than you on how to manage your business.
The Tower on Richmond in Houston should be renamed "The Tower of Ego and Arrogance"
Hydra rig Canada is moving manufacturing to HR Fort Worth. Going from 120 or so employees to 15 or so employees.
Fort Worth is very proud that all product lines have been moved there and they have capabilities to manufacture everything. At least they don’t have coil tubing trailer units being built for the past five years after Genesis failure.
So much for any semblance of product line expertise. Not to worry though, I’m sure Ft Worth can manufacture EVERYTHING. At least thats what the consultants said.
NOV never paid their employees enough. Better to leave sinking ship.
Severance packages was 2 weeks for every year with a max of 1 year. Now only 1 week.