I hear rumors there will be layoffs in OFS due to poor Q3 results. Anyone know anything?
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The inbreeds will always survive; can't say much for the chances of remaining few. GLTA
What roles that require associate degrees? Outstanding! These COI’s, this race to the bottom to drive costs (value in customer terms) out of a business process, just shows the naivety of those cast offs from an organisation that really believes it can run any business (in this case into the ground) better than any other. May have been true 20 years ago, when it was the behemoth Jack Welch built, but the rebranded GEOG (honestly how can you view it any other way?) struggles to make 8 mill a quarter when oil is 80 dollars a barrel, is a pale shadow of the company name it now goes by. You are not expanding, you are drowning.
Yeap. We were hiring up to the day they announced closing the plant, three times!
You’ve only proven that leadership still has no idea as to what’s going on. But we keep the same leadership in place. The smart money leaves and doesn’t look back.
I got no impressions of layoffs after the OFS town hall. In fact, it seems we are adding roles.
Wait until they do a holiday luncheon. They usually lay off after “treating” you.
Oh wait, nvm. They’ll just Zoom and tell you the news.
All kidding aside, I hope everyone is still employed and the business picks up throughout the year.
This is what the Oracle is pitching
Plan:
'Due to the rapidly changing market dynamics we see unfolding, we are excited to rebalance the blend of our service offering to meet opportunities for market growth. Meanwhile, cost synergies are still promoting a strong tailwind for our push to higher margin growth.'
Business Review:
'Unforseen labor force dynamics constrained service delivery and reduced top line growth'
Translation we fired people who were in productive roles and we couldn't do the jobs we need to make money :-P
I wish I had spent more time at Crotonville and Florence.
Layoffs are never good. @ftz+1dClvZ0h
I’m hearing a mom and pop shop has undercut OFS running tools. And BH LWI isn’t in the running for leading subsea intervention. Not even close. The competition has LW BOP, LW riser, and they own and operate ships that deliver LW services to customers. The competition doesn’t have to use vetco connectors in any size.
You either provide a full service or you go away. My money is on another divestment.
That's the only thing that Scaminelli know to do.....running out of people to layoff and equipment to sell, can't wait to see next quarters performance
The numbers speak for themselves unfortunately. Layoffs are imminent. Maybe a good thing?
What about Chemicals?
Yes heard the same. Many roles in risk, except for the useless leaders of course. They will survive.