It really didn’t take long. And trust me when I tell you, it’ll get much worse before it gets better. Good luck, all!
12 replies (most recent on top)
I don’t understand the negativity of previous posts. Yes, Schlumberger has its flaws... every company does. I’ve worked for Schlumberger for many years, started as part of an acquisition. I’m not in management, but I’ve had fantastic managers all along. My coworkers are hardworking, skillful, conscientious, and really strive to do their best. These are real people with families who may be affected by the downturn. I hope for the best for all.
Where are layoffs happening?
CEO of Parsley Energy want service companies to take 20% haircut to keep ponzi-scheme shale drillers in business. What a schmuck.
Even layoffs cost money and time - can’t afford them. Sell parts of the business. Question is : who will buy?
At these crude oil and stock prices, it takes more than layoffs - divestments. Cut off the arm to save the patient
Sustained 30$ bbl is gonna send the industry into a tailspin of debt and consolidation. The only profitable oil at that price is the one that comes from Arabian peninsula but everyone else will be forced to pump just to cash flowing....
This is the Armageddon. Whoever was long on oil investment will have to write off and cry their money away!
Of course sales is going to struggle. WTF are you going to sell at $32 a barrel??? I’m swamped in testing services from ME work, but that will dry up soon enough. Good luck blue!
Sales are struggling and too many jobs being done at less than cost. Also shale drilling activity in N. America is likely to decrease by 20+%. You really need to be aware of the current news not the bull spouted in the (dis)information herd meetings.
Any sales people let go?
Reslink, Sugarland, Rosharon, Katy:
- Engineering
- Manufacturing
- Quality
- Managers
It will be yard closures in 30 days @ $30 WTI prices.
What location?