Covid-19, the oil downturn, the financial crisis - all these were caused by global events affecting the market and required layoffs.
This time it’s all on SLB management - 10% of the company headcount is to be reduced. And who will feel the effects? That’s right, it’ll be the workers and not the management. Ironically, this comes at the same time the term “psychological safety” is being banded about. There’s no safety of thought or talk when the megacan is out for the proletariat.
One person I know has “retired early” today. The department was kind enough to let home come in and say goodbye after 27 yrs with slb. He worked for DrillOps as a QA.
I just heard 6 people were let go last week from Dyna-Drill, can anyone confirm that?
10% head count confirmed. WC to be hit very hard , RP not that much…digital is going down
“ proletariat”. You must work for wireline…I had to Google its translation.
That’s unfortunate. The points are of no consequence since you have a 401k only. Around 2004, the company asked its US based employees, all of whom were on pension and 401k to decide whether to remain in the pension + 401k or move to an enhanced 401k with no pension benefit. The poster below, referring to 85 points, is talking about the employees who remained on the original scheme.
I have no pension just 401k 34 years and age 56 and what’s this thing your eligible to receive an un- reduced pension benefit
"Regarding “age + points” - the equation for “early retirement” varies from cycle to cycle, but it’s always rigorous. I’ll likely “qualify” this time around, which means retiring too early. Anybody figured out this cycle’s equation?"
The equation never changes; it's whether or not they let you get to that number that changes. The points systems is only applicable to employees in the US who retained the pension+ 401K as opposed to just a 401K (back in 2004)
When length of service + your age = 85 points or greater you are then eligible to receive an un-reduced pension benefit.
When your managers start buying new trucks, then you know. That’s when the ego kicks in because new shiny things makes them feel worthy and productive in a non productive sinking ship. They will typically buy a Ford so look out for ur bosses shiny new vehicle!
Regarding “age + points” - the equation for “early retirement” varies from cycle to cycle, but it’s always rigorous. I’ll likely “qualify” this time around, which means retiring too early. Anybody figured out this cycle’s equation?
Project North Star was taken so it’s being renamed to Project Death Star
Would the layoffs catch up to those managers who have been around for years, mysteriously promoted, and seemingly idle all day? You know, the ones who spend their time attending meetings of their n-1 managers because they have absolutely nothing else to do. They're pretty easy to spot—they're always the last to get any information and act like they're discovering everything for the first time. They're great at facilitating and giving directions, but only once all the hard work has already been done by their n-1 managers. Often brought in by their colleagues as part of a "close-knit group" sometime from one culture?
My boss was on that "list" and he's gone...age & points
i haven't heard anything and we're still hiring...
the signs have been there for months! with management behaviour, some of the decisions being made and all the new little tasks alongside your actual job being rolled out along with the big drop off in actual work to do...we've seen it all before.
Remember when you were told everything you log in SAP is for costing etc, well lets hope your 'idle time' isnt too high or you will be first to the gallows.
strap up guys
Are they using those "Evaluation Forms" that give points for various criteria?
As time passes, the company adds more "modern" requirements and certifications.
This has the effect of culling-the-old. Purely by chance, of course.
Yes, starting now
It has
Oh no has it started?