We have made the difficult decision to consolidate our valves manufacturing and support footprint and have started a transition phase for the manufacturing operations at our Cameron plant in Little Rock, Arkansas. All plant activities will be transferred to our facilities in Oklahoma City, Oklahoma and Ville Platte, Louisiana.
https://www.kark.com/news/local-news/schlumberger-shutting-down-cameron-plant-in-little-rock/
COVID-19 is a most convenient coincidence and likely accelerated and deepened cuts that were going to happen anyway. Fossil fuels are slowly dying and the industry was going to contract anyway. But it's easier on management to blame COVID than to say something like "We're letting you go because this industry is going the way of buggy whips and floppy disks" or "Paal Kibsgaard drove this company like a rental car, so we can no longer retain you".
I forgot to add, that management, instead of accepting responsibility for their own incompetence and greed, are, as was pointed out content to blame the effects of the Chinese flu, instead of looking back to the decline which started over one year ago.
At least there is one other person who understands what really happened, UNLIKE the 'experts' in the MEDIA, and, for the most part, management, who are still collecting their paychecks, and all-important bonuses despite what is happening in the real world.
"Not many businesses COVID hasent effected, ours included but this downturn has nothing to do with it, this was happening regardless, warning signs were there from October last year."
Not many businesses COVID hasent effected, ours included but this downturn has nothing to do with it, this was happening regardless, warning signs were there from October last year.
Perhaps because appears they are closing the LR facility due to Covid. Sure looks like that’s the impression being made here
This decision was taken long before Covid. How do you think this is related?