Get ready 7/31/15 is just the first wave.
12 replies (most recent on top)
Beyonce sold out to the illuminati.
8-3-15 came and went your still here get back to work
Greg east
uuuummmm hate to break it to ya bud, it's all about competition and who makes the better product for less and the extras that come with it. NOV has fallen off that horse and having a difficult time getting back up. NOV still has to much excess fat that needs to get cut and trimmed in order to survive.
The first wave has come and gone. The second wave is in progress. There will be a 3'rd too.
Wait that cant be because the first wave was said to have been 7/3/15 so this is old news!!
Actually Schlumberger is doing a whole lot better. Sales have gone up 40% and business has picked back up very quickly. No layoffs for this quarter or the next. The big high dollar paying customers have been rerouted to Schlumberger.
hhhhhmmmmm a designer actually and I can say that NOV as a company are starting to loose the market in several avenues. the competition is years ahead now, we see this everyday when we go onto Rigs and see our OEM equipment has been replaced by another company using new technology. Time is money along with efficiency so they say !! yet we still use old equipment and that's a fact.
Anonymous125606: I'm not sure if you are just a wrench turner but most of the technology NOV has put on the market has been on par with its competitors. In case any of you missed it, a little over 12 months ago oil started descending to where it is now. This isn't a matter of who makes a better product rather a reduction in capital expenditures by contractors. No one needs a new $3 million top drive when the rig is about to go idle. Look at the Petrobras deal or the new Ensco DS-9 which didn't even have a chance to hit the water before it's first contract was canceled. But nevertheless keep thinking it's one company trying to f××× over its employees. I was laid off, but I hold no hard feelings. I saw it in the cards 12 months ago. While all these kids were spending the last of the boom money on $70,000 trucks and lavish houses, I stashed my cash.
NOV is doing better than Schlumberger and other companies who have laid off far more people
Earnings down 26%..... not surprised to be honest, the company works in the dark ages with technology way outdated
Grow some will ya? Yes it's really happening! Oil may go to $36 a barrel man you have had plenty of time to prepare so quit acting surprised!
Is it really happening?