30-40% reduction sounds like alot....but i believe it. We employees here at Sperry NB are seeing it first hand. All morning long, left and right, one after another. Even PGLs are being let go and techs with 20+ yrs here.
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The funny thing is.....almost every oilfield layoff board says the same thing - Schlumberger, Baker, Weatherford, Conoco, Apache.....apparently every oilfield company is run by id–ts who fire all the competent folks and are just “lucky” to be profitable.
Although talent gets laid off, and cyber slackers fill their void, Halliburton managers will fire their mother to keep over financed keyboard warriors on the roster while the skilled field hand and tool builder gets the RED BOOT.
Yet Somehow Halliburton manages to be profitable despite itself.
I’ve been through several huge oilfield layoffs since 1981. Each time, everyone says “when things start up again we won’t have any talent and the oilfield will fail!” But somehow, each time the oilfield comes back Even stronger. The naysayers are always wrong.....
Lots of good people being let go. I understand the need for the layoffs but when times are good again, we're going to be without a lot of wisdom and experience. Technicians with all this experience is going to impossible to replace with the "can you flip a burger, oh you'll be fine here assembling and maintaining our multi-million dollar tools. Besides, you know my manager so you're gonna be a great fit!"
I confirm that.