We got another love letter from Mark today. Well if he is taking a pay cut I guess I can take one too. I mean how many times can we take one for the team oops sorry one WFT.
18 replies (most recent on top)
This is bad, wft is still in a bad spot here, oil companies don’t really want to use us because of liabilities, that they can’t support, investors and banks don’t want us no purpose for profit, very poor mgmt they just shuffle around, the equipment bops, wellheads, mud pumps they need to close, and just keep the down hole tools and try to keep rental open
I would like to add to the wonderful news today, oil just hit 20 buck a barrel. That means more money in our pockets! And ....... wait for it, I can still work my hours !
Agreed, if they haven't made significant changes since transformation started then its their time to go. Laying off fields isn't fixing it when they keep leading us down the wrong path!
So it's gotten to the point where they can't lay off a significant enough number of people to make a difference but also can't afford to pay the people that are still employed. Maybe instead of reshuffling the upper management deck they should have anyone who has been at director level and above for more than 3 years re-interview for their jobs. Get rid of some of the placeholder managers who simply move about from one role to the next without any improvement.
One very good thing about low oil prices is that we all have low gas prices! Trump is bragging that its like having a tax break. That everyone can benefit from this. Nice!
So old Swifty is retiring and now we go back to the 20% reduction of hours and no 401K match. If you do have to work over just take a day off next week. Unbelievable the sh– that gets pulled. Hey anyone have extra red tags? I’m out and the pile is getting bigger by the day.
Where my bonus?
Hahahahaha ha good luck wft, oil is 24 dollars hahahahaha barrel, I can’t stop laughing omg, and the cherry on top is covid-19, low gas prices. My stomach hurts wheeew.
f8ck liers all....take 1/2 pay cut, sacrifice...and they screw you from behind. 2 wks later the door will hit you in the arse.
Most national oil companies cant or wont use wft anymore because of the risk of failure to perform. They dont care about cheap they care about protecting their positions and wft is too risky when there are other options. Hard trufes
The problem is that the operators risk dept wont allow them to use wft because wft basically has no liquidated value. When the insurance co cant recover a judgement, they cant use wft.
Weatherford like the other major service companies will fly under the radar through this period using any and all government incentives available in the countries it operates in to stay afloat. When around September this current crisis passes by the backlog of work will be incredible and Weatherford will cash in big time. The corona virus is the best thing to come along in a long time for the service companies, the enforced stoppage of projects in all the major oil fields globally can only benefit us long term as there will be more demand than supply a scenario that hasn’t been seen for years. Sit tight, enjoy your time off and get ready for the end of the year when it’s going to be chaos.
WTF won't collapse. Shareholders paid the 1st bill avoiding collapse last year being cheated, now taxpayers will follow for the bailout and so on... Banker's hand always wins... You play with the vrumbs
The total disaster is already made. The global economy is based on a foundation of debt laden sand. Now that the howling gale, that is Covid19, has arrived the economy is going to be blown away.
Easy money made available by the central banks coupled with greed and self interest of corporate elites have led us to the edge of a debt cataclysm.
Goldman Sachs are now projecting U.S GDP of -24% in Q2, if that comes true that is the worst in history, it’s even worse than the Great Depression. However, and sadly, we are about to enter what will be known as the greater depression.
Good luck to you all.
Lifer dog this is how WFT rolls, sit back, relax, and enjoy the sh– show... take some pointers on how to not run a business
This is nuts. Why would wft continue to risk massive liability while not making money. This is how total disasters are made. Stop now
Iam not taking a pay cut f— that
how big is the cut ? permanent or 90 days