Thread regarding Weatherford International Ltd. layoffs

Dharmesh was one of the few smart executives Weatherford had; seems he's smart enough to abandon ship.

When will Bernard allow some professionals to run this company? He has been getting so many industry veterans and then throwing them away John Briscoe, Dharmesh Mehta and others to name a few.

That's what happens when you have to actually pay someone to buyback the company that you originally purchased. Here at Weatherford it has happened a few times, most recently where they sold the acquired company back to the original seller. Except this time Weatherford paid him to take it back.

Read WFT have acquired a new company Elite drilling was this with projected money which will be saved paying Dharmeshs salary. Also is retiring with immediate effect senior management talk for being fired?

What do you expect from a technical company run by bean counters/investment bankers!

Thought it was strange his retirement was effective immediately

Anon 135392 - is that the reason he was pulled form the COO position?

Sure I remember a post here a few months ago whistleblowing Dharmesh had acquired 120,000 shares? If so was this his golden handshake? Also even at $30 barrel the remaining VPs and the vast amount of senior managers will still keep bleeding WFT dry at the expense of 1,000s of more job loses

Yup....saw it coming! Get ready boys, the fat lady is getting ready to sing! Oil will continue to drop to about $30/barrel.