Numbers, numbers, numbers
4 replies (most recent on top)
NOV will cut up to 25% this year, sorry but it's true.
Yeah 6k is probably just Q1 of this year. By the end of the year atleast 20k more will be cut globally NOV is going to be roughly a $3B company in revenue for the next 2 years Vs. $20B+ in 2014 and $15B+ in 2015. How many employee do you need to support a $3B/year company....... Not 40k....not 30k unless NOV intends to give up net margins. Investors and Wallstreet are not going to like that. More cost cutting and layoffs are coming
6k? More than that..
End of 2016 will be 6 K less