Thread regarding Halliburton Co. layoffs

Is it over now? Or just FOR now?

EMAIL LOGO

TO:

All North Belt Employees

FROM:

Jeff Miller – chairman of the board, president and CEO

SUBJECT:

North Belt update

One of the unfortunate realities of this unforeseeable, dramatic business downturn is the impact it has had on our workforce. We began significantly reducing our workforce last month, and earlier this week about 1,000 North Belt campus employees lost their jobs. These decisions are immensely difficult on all of us, from the impacted employees, to the managers who relayed the news to them, and to all employees who will miss working with their former colleagues and friends. But, I want you to know that we believe the adjustments made are sufficient to adapt to the current market.

Recognizing it will not be easy, now it is time to forge ahead. Your teams may be smaller and leaner, but I am confident that you have the flexibility and creativity to adjust to these changes. I realize this might seem challenging when your plates are already full. However, I ask that you stay focused and execute your work to the best of your ability. You make a difference in our overall success, and I believe what we are doing today will guide us to a better future.

It will take commitment, endurance and determination to navigate through this tough cycle, but I have no doubt you will all rise to the occasion. We have never seen a combination like this — a global pandemic coupled with an historic deterioration of the commodities market — but we will get through it because of your efforts.

Thank you for your strength, your focus on execution and your leadership.

This email, including any attached files, contains confidential and privileged information for Halliburton employees only. Any review, use, distribution, or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive information for the intended recipient), please contact the sender by reply email and delete all copies of this message.

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| 5371 views | | 15 replies (last May 8, 2020) | Reply
Post ID: @OP+14PmiuFa

15 replies (most recent on top)

Are you smoking crack? We haven’t touched 3% of our workforce. It’s been about 20% since January. We had 55,000 on January 1. On the earnings call in April we said we had 50,000 and since then we have cut another 2,000-3,000. Hell we lost 1,000 people Monday just at Northbelt. So simple math shows that since January we have lost probably around 9,000 of our 55,000 we started the year with. That is an 18% reduction in an already leaner workforce than we had in 2016

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Post ID: @2xzc+14PmiuFa

If you think the layoffs are over, I have a nice piece of swamp land in Florida to sell you...it’ll easily hold a 100 story building. smackshandtohead The 2014/2015 layoffs let 30% of the workforce go, Halliburton has only touched about 3% of its workforce right now and oil was higher priced then. Halliburton will cut until it’s stock price goes up over $20/ share.

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Post ID: @2jyf+14PmiuFa

the chiefs are just trying to figure out how to pad their retirement and how to save their VP buddies.

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Post ID: @lpv+14PmiuFa

There are still layoffs happening and will continue at least through May. Then periodically as needed.

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Post ID: @hdc+14PmiuFa

Of course he won’t say in his email that hey layoffs are over and so go and relax, but overall, it feels from his words that it’s over. Probably a couple more every week until they review next quarter.

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Post ID: @zqa+14PmiuFa

Just a note on previous comment... Lesar was CEO during Baker merger attempt, not Miller.

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Post ID: @ulc+14PmiuFa

Hey dumasses no where in the email does it say it's over, long ways to go.

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Post ID: @mlr+14PmiuFa

To “Carole”: oh I don’t know, maybe things like personal integrity, honesty, your personal word to ensure Company data security. But, now we know all we need to know about your personal traits....

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Post ID: @yja+14PmiuFa

Now the company wants your renewed loyalty. Words and phrases like “plates are already full”, “stay focused and execute”, ra-ra “You make a difference”, “will take commitment, endurance and determination”, “strength, your focus on execution”, asking for your commitment to work impossible hours, recognize they were loyal to you by keeping you on board. After being let go I consider it a blessing. This is no longer the company it used to be. I feel remorse for those left behind. Leadership Mr Miller asks for begins with him. Wait under his leadership we lost 3.5B in the Baker Hughes deal. Wouldn’t it be nice to ha e had that money in our accounts now, maybe we could have weathered the storm. But so called leaders that make mistakes on that scale are bound to repeat them as his judgement or “gut instinct “ just does not exist. And the BOD sits idly by with no moves planned. Guess it pays to marry the exCEO’s daughter and get that MOB like protection. Ouch did I just say that out loud. Oh well everyone already thinks it anyway.

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Post ID: @jcw+14PmiuFa

Why would I care what the last paragraph says? Are we all supposed to the follow the rules of a corporation that doesn't care about us?

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Post ID: @lmr+14PmiuFa

It looks like it’s over!

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Post ID: @vzv+14PmiuFa

The short version:

Congrats; you’ve survived this round! Who will be eliminated in the next one? Stay tuned to find out (I.e., our solvency depends on most remaining employees staying and burying themselves in what’s in the company’s best interest).

I wish the remaining employees would jump ship, put themselves first, and let this company die off.

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Post ID: @gvm+14PmiuFa

Kiss your loved ones, you made it through. The market isn’t going to get worse.

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Post ID: @rqx+14PmiuFa

“Carole” apparently didn’t read the last paragraph of Jeff’s e-mail......

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Post ID: @qes+14PmiuFa

Are any VPs - PSLs, accounts, regions, functions - gone? Or does driving the bus over a cliff provide immunity?

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Post ID: @bda+14PmiuFa

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