This article summarizes the soon to be demise of the Big Blue.
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/battered-schlumberger-reported-largest-ceo-to-median-employee-pay-ratio-in-2019-60328650
11 replies (most recent on top)
Now they are trying to rehire people at 1/3 less of their salary and in places like Midland and Williston without housing allowances. Slb is a joke now. How the hell do they expect to get anyone good back? That’s right lower the per hour rate and get stuck with people who have nothing else going on and then fail some more thinking that may prove they shouldn’t do whatever they are doing. What sh–ty company now.
Schlumberger is being exploited by greedy and incompetent management. Any CEO who really cares more about the survival of the company than his own enrichment would not accept such a high salary. The CEO should set an example during this time of crisis and transition. For the survival of this company the CEO salary should be set at one million per year and other executive salaries reduced proportionately. If they think they can do better elsewhere let them leave.
Good luck & lucky if you have a boss who is honest. Keys to success in slb.
Otherwise ....
Schlumberger brothers must be spinning in their graves .... the top execs over the years driving this company right out of the industry. Very very sad it used to be a place I loved to come to work for!!!
Many years ago, when should was the CEO, he came to our location and held a Q&A. When asked what he felt about employee compensation, he said “in the service industry, employee happiness reflects in the service we provide to our customers. You only need to look at a low paid airline steward to see this first-hand”
So much for lowering NPT and making service quality a differentiator for SLB.
"SLB is not a good company any more, but it is better than competitors"
Based on your assessment, would you say that the above became true after the 2014 crash, or only in 2020? Thank you
SLB is not a good company any more, but it is better than competitors
Thanks to the OP, but how is this even news??? It's well known that the entire industry's comp structure is management leaving its footprints on the backs of those who actually do the work. For all its initiatives and managerial flavors of the month (what's happened to the mental health campaign a year later???) SLB will never be a great employer until it acts like it values its employees above everything else. And not some empty lip service, but actually valuing regular employees. Because valued employees value each other and customers. If employees are front and center, the rest takes care of itself. How many times I've snickered on the inside when some poor kid doing his/her Grade 11 controls interview rattles off the 3 Values of People, Technology and Profits.... because we both know that the People aspect is a joke.
Cut costs, savings this, savings that, furlough & layoff people(good ones too), this person can do 4 jobs instead. Slowly tightening the noose of those left. Overworked, low morale, ignore feedback, honesty is a threat, company is driving people away.
Exactly.... so sad!!! Took a great company and ruined it! But karma has a way of coming to get them!!!
Thats Why the rest of the camerons divisions will be closing soon cause no payback on investments thanks to slb