Thread regarding Schlumberger Ltd. layoffs

I said it once and I will say it again. Big Corp. Every employee in SLB is a number, period. They drop the pencil and everyone below the line is cut. Doesn't matter that you got 18 straight Exceeds Expectations on your SLP-3. It doesn't matter that you are BAN6 manager. It doesn't matter that you were SETC Level III. Doesn't matter if you saved the company millions of dollars. In the end, they do not care about you. Sorry. I got slapped with this back in 2018. Trust me, you are way better off. This company was a good company to work for at one time. Then Paal took over. Then the down turn hit. Then Paal said "Do more with less." which p-ss-d off everybody at the executive level. But, no matter. Just start cutting people until the investors do not lose money or at least break even.

Well pretty soon there won't be anyone left to run the Company. I guess SLB is getting ready to turn off the lights.

Well pretty soon there won't be anyone left to run the Company. I guess SLB is getting ready to turn off the lights.

3atnj+125uEKlY Strong Agree.

My SLB Field Manager kept me to be a trainee for 2 years so they don't have to pay extra bonus and technically have a working engineer without a real headcount. I was sick of how they treat me. I moved to other company and get paid 6 times more with way better job and coworkers. For you who gor laid off, chin-up, there are plenty other places to work for. And after working with SLB, there is no job that could be worse.

Hi Paal, getting bored at home?

Dear complainers, I worked for Dowell and then Schlumberger just shy of 39 years and I saw lots of layoffs and reductions. The downturns and subsequent layoffs, as in many industries are sad and painful. I to, saw many friends and colleagues get the pink slip. I feel bad for each and everyone and hope they/you find new employment.

However your knocking a company who paid very good wages, provided good health benefits while providing excellent training shows a real sign of being ungrateful and unrealistic. Do you really think Schlumberger enjoys laying people off only to pay severance and then additional costs for retraining people when the activity improves ? Be real, when times get tough like now what would you do ? Shareholders expect companies to make a reasonable profit, if not the stock gets dumped. Schlumberger would be far happier keeping headcount up because that would mean they have activity and business that matches headcount levels.

Looking back at my career I can only say that they treated me in a first class way. With some 11 transfers and relocations I made many friends, literally saw the world and learned much about the industry. I worked my tail off for 39 years and I can only say that end the end they treated me very well. In closing Schlumberger did not get as big as they are for being stupid. Schlumberger is a great company period. If you don’t like downturns try other industries like retail, education, farming or something else. Take care, be safe.

They want people now who weren’t laid off last week to take pay cuts like 10-15%. Its super c-appy because they don’t say when this cut will last or for how long. So you could agree to an I definite pay cut even though you EARNEd more over the years. And the CEO and others oh they took only a 20% paycut for the first quarter. Bet that really hurts their milkions but for others who are hours it seriously hurts!

https://www.chron.com/business/energy/article/Layoffs-pay-cuts-loom-as-Schlumberger-plans-to-15153483.php

We haven’t been laid off yet but we all are waiting on the big layoff to happen it’s coming soon it is what it is Cameron West Coast out of Bakersfield,CA

SLB Midland and Odessa in the Frac dept have been laying employees off. They are getting rid of all their contractors on site also.

senior petro-techs are laid off. some of them with 20 years building value for the company and generating millions in revenue. Meanwhile people with titles like: "performance monitor owner" or digital transformation manager or other bs are still employed.
someone says, they lay off ppl where there is no revenue but how about these BS people , what revenue or value do they bring to the company.

Good post @Obvt

I’m ex Halliburton and feel for you all.
My father in law was Dowell before Schlumberger merged with them, he was truly disappointed, and I can see why!
With my career with the red competition, we also went thru the layoffs as you all are experiencing.
If you have been laid off, look at some of the smaller companies, you will find that most of them (if you get hired by them) will treat you like your part of their family and not just a number on a truck door!
Keep your heads up, there is work for people who are willing to work!!
Good Luck to all!!

Rumors in SIS are that Aachen (Germany) is to be "rightsized" soon (again) whereas Norway's headcount keeps ballooning, with two third of the Nonsensical Pipe Dreams budget allocated to DELFI.

Geomarkets got rid of Principal to Advisor-level technical people in December and the trend is due to continue in Q1.
KPOs for 2020:

• IMs to be kept solely in managerial positions. To be replaced by intra-gmkt moves whenever needed.
• All services with IBT below 15% to be isolated into a separate team, then closed or "rightsized". Strategy is to retain only sales and support activities and use this as a way of getting rid of non-engaged employees and of remaining senior technical people and IMs.

Expect Asset Consulting to be decimated in most Geomarkets. After taking-over HQ button-pushing monkeys will keep dominating in the forseeable future.

some great employees just got let go in midland texas. exactly one week before christmas............... what a f** up company

• and he is now an "advisor'.......you could not make it up.

Paal Kibsgaard was making speeches during the boom saying “size is our advantage and we want to have 200,000 employees by 2020”. This was crazy because how would anyone know how many people Schlumberger or any company will need five years into the future? It depends on unknowns such as the future economy and market strength, technology changes, competition and other factors. He really did not understand business.

SIS has been cutting experienced staff (just before XMAS) that generated millions of $$ over the last 10-15 yrs. That's how SLB treats people. Work 80 hrs/week, generate lots of business & $$, create value, protect market share, etc. and then Angel of Death HR shows up and says 'get lost'. Warning to new hires, it will happen to you.

Being laid off is really tough. I was laid off few weeks ago after 13 years Of service with slb. Still trying to figure out life and stuff.

I know it's tough to get laid off. I was laid off in March of 2016 after 14 years with SLB. I promise you it is usually for the best. I have a much better job now, more money, less stress. Hang in there, there is life after SLB for sure. Good luck.

They lost 11billion because they bought Cameron's we didn't tell them to buy us they should've left us alone we was doing so much better without schlumberger

SLB does not care about employees, laying off at the holidays, etc. In fact the more the better in December because they want people off the books by year end. PEOPLE FIRST!!!.... out the door.

hey Cameron guy yall not keeping us afloat read the slb article yall and pathfinder cause us to lose a 11 billion dollars

125uEKlY-akak wow thats even more barbarious than us. I can imagine how your Thanksgiving day must have been. Hope you and me find a good job soon

Got called into work yesterday one day before holidays to get shown the gate

What is slb NAL?? unfortunately we are hit by layoff too in this round. It's so depressing. We had our whole vacation planned and all of a sudden we find ourselves without a job just before start of holiday.

Cameron is keeping SLB afloat right now. SLB is doing a bunch of layoffs in the noncameron areas.
Cameron can only do so much to fix SLB.

SLB is laying off a lot of people.
It is so messed up that they do it right before christmas. Either do it before August or wait until January. Or better yet, give people a few months notice so they can find another job.

SLB NAL has laid off alot of people ..unfortunately i was hit by this round ..more to come

Ya schlumberger does not care if it’s before the holidays or if they let you go on Christmas Day, it truly is a heartless company.

Agreed, only reduction in management, HR and HSE to get back to core business will ever solve SLB problems. The E2E was another failure thanks Cameron.

With total liabilities of $23bn, market equity of $48bn (they would never get that in a fire sale), cash of $3bn (which will not last long), selling services at a loss, far too much stock, planning that is away with the fairies and far too top heavy in management, I would say things are precarious. Thanks Paaaaaaal for your sagicity in buying Smith's and Cameron for $12bn more than they were worth. Clown.

Yes my husband got laid off today. Rite before start of holiday.