Oil is a cyclical industry and things are bound to turnaround sooner or later.
Please stop working yourselves into a frenzy over something that has happened so many times before and is bound to happen again. Yes, the coronavirus pandemic complicates matters somewhat, but not to the degree some people here are inferring.
Schlumberger will survive this and so will you.
And Abraham Lincoln was short. Sober yourself and accept that the company and industry you knew will not resemble what is coming. Feeding empty illusions will not take you far dear.
Posts like this are proof that the Scumbot HR trolls and the other Sugarland bagheads patrol these boards to defend Scumbooger as they sheepishly peer out from behind their computer monitor, lashing out at anyone who speaks negatively of Schlumberturd. These are the people who are putting your name on the list to be cut.
@hjb+14RsJ5nu Frankly Speaking.
Oil price won't back fast, maybe more two years. Even if the oil price goes up, moreover, the new technologies and new energy will share the market.
HAHA. Yeah right. They have been saying that since 2014. And SLB will survive but will be a whole lot smaller. The price of oil will rebound no doubt but SLB will always be conservative and never go back to the way they were. I made it through 27 rounds of lay offs. 28 got me. According to my numbers and people I know at the executive level, it's at about 85,000 people that have either quit, forced into retirement, or laid off. 85,000. That is about 68% of the company before the down turn hit at the end of 2014.
The glut in place is massive.
The demand for oil is tiny now and long term the world will change. Less travel, less trips, economy shrink less manufacturing, everything is less hence O&G demand is very low. At the same time renewable will get a line of credit to be implemented.
O&G will continue- but it will take 2-5 years and new lower pay rate than ever before.