I was in a meeting with executives on Monday. NOV plans to cut 40% of their global headcount by Q2 of next year. I do not know what areas will be affected.
My thoughts and prayers go out to everyone. It's about to get a lot worse before it gets better. No one is safe.
I'm high and plain stupid. What ever will I do ?
Wonder if that is 40% from the start of the downturn or 40% from current levels
Price of oil today was around $41. It is will be in the 30's before 2015 ends.
This is very true. I've been saying the same. No one is safe. My boss was in that meeting. He told us the same thing. He said we should start looking now and every day until.... He's going to try keep us employed but cannot guarantee anything. He's been told 50% has to be eliminated from our department and needs to be done every week until end all 50% are gone. Those who've been saying things will turn around and get better were either high or plain stupid.