Now it seems like everything is under control, there is no talk of layoffs, the company has beat Q3 profit estimates as oilfield activity recovers, the atmosphere is finally a bit more relaxed, but,,,, I am personally afraid that it will not last long. Maybe I'm too careful, but I don't think it's a bad idea to start preparing now in case one has to say goodbye to Schlumberger and the industry?
7 replies (most recent on top)
All true, i personally expect one more jump to $100bbl then the party is over. Their green energy will ruin the earth even more than oil ever did. Oil will always be needed,but in limited supply. And you the consumer will feel the pain, get ready.
The biggest issue SLB faces - like many O&G - is recruiting top young talent to take it forward. The current generation of top 3rd graduates ain’t interested in working O&G, and can see through all these companies hurriedly trying to re-brand themselves as ‘anything other than O&G’. So you have to pick from the next 3rd and the one below that. That’s a big issue if you’re a ‘technology company’ relying on being innovative ahead of others.
Like the previous comments, you need to be prepared because this company is going to decline and downsize fast. The glory years are over. They are making efforts in new energies but it is too late. Just look at the age of your coworkers. How many are below 30? The company is big trouble.
I recommend being prepared. I don't know your situation but another option is consider going to school or getting advanced certifications that allow you to jump ship easier. Things are always calm before the storm. Even in good times there are big org changes and the ladder climbers will fight tooth and nail to get to the top. Unfortunately, more often this means troubles for the hard workers.
The lifespan of trimming SLB to few thousands is very small as the world ( major consumers of fossil fuel ) takes on alternative source. This is going to accelerate as fast as possible, 1st( USA), 2nd(China) and 3rd(India) largest consuming countries are fast adopting alternate sources backed by significant government support. Seed has already planted 10 years back which has set this in motion. It just needs acceleration which they are providing on timely basis. Give them couple of years here or there, once the transportation shifts to non-fossil fuel ( over 50%) in next 8-10 years, SLB has little or no value( it will be trimmed to few thousand from current 90K+ employee base).
Plan your career accordingly. If you stay in denial, then you will be taken away by the under current! Moreover, why stick to an industry which is dying unless you have few years left for retirement? :) Just saying.
To add to it. Just wait for some additional scrutiny ( eg. methane leak and associated penalty, loosing tax breaks ) will eat away the revenue. There may be temporary price hike ( as manipulators always do in any commodity to clog supply side), but that will only force to accelerate the adoption as consumers will move away from it much faster.
You definitely need to be prepared. There will be another downturn. The cycles are shorter and the management made it clear that the only thing they do when revenue goes down is layoffs.
How can an employee fully engage in the pursuit of success for their employer if layoffs are the forefront of consideration?