Looks like they could get rid of these non revenue generating subsidies and ease up on layoffs. I personally don't see any usefulness to keep Westerngeco, Smith, etc. Any thoughts?
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@balance and Smith need to be axed. What a waste, mediocre RCDs and MPD struggling to pay the bills.
Yes, they would shrink or shut it down before they would sell, hang onto the technology. They are looking for competition to go bust or to acquire when the time is right.
Smith was amazing to work for before SLB took over and started taking every benefit away. It seemed like every 6 months something got reduced or "aligned with the company". I agree with what people said about this downturn being really demoralizing, but honestly who would SLB sell a segment to? A diverse portfolio is the only way to survive rocky market conditions, having more companies means more opportunities for revenue.
The strategy of buying out successful competitors opperations IP and technolgy has worked faily well to date for Big Blue, competition erodes pricing and profitability. Big Blue for a long time has wanted to turn opperators into banks, they front up the money, take the risks and turn to Big Blue explore, drill, produce. All the better if can deliver like a robot, be it though traing or automation.
Western Geco was very profitable when owned by Western Atlas and ultimately Baker Hughes.
SLB bought it/them and ut oh!
WE used to refer to it as "The Dark Side" = Entity working hard at destruction of company.
We used to joke when someone made some management job and turned to "The Dark Side".
Unbridled growth is another factor in The Fall. Bigger is not always better.
So far it has all worked out well, can't you see?
Oil will rebound and probably big time. Where oh where will self proclaimed #1 be then?
Yes, SLB has squeezed the life out of Smith and its employees. To the point that everybody hates their job. I can't speak for other entities, but in Ponca it's so screwed up that there's no fixing it. Worn out machines and employees laid off or retiring with no experience running those worn out machines being passed on. The plant has such a bad reputation that nobody I've talked to wants to work there. It used go be the best place to work in Ponca City.
Do you dare to sell non-SLB legacy companies, SLB is really like a sh-- as French Robots.
To the guy who wrote this you sir are an idiot! Smith which owned Pathfinder as well before being consumed by big blue was extremely profitable! It's SCHLUMBERGER's who f---ed this all up! Smith and all it's entities we run like a mom and pops company to which employees mattered not stockholders! I wish they would have sold off pathfinder and all the smith product lines because honestly we would be better off! Instead the dissolve pathfinder and make us legacy employees turn in to the big blue scum! Please tell me what division you work in because us field population are the revenue generators not the office politicians! If they modeled their management the way we did at pathfinder then no one would have been laid off except under performing people! Schlumberger is going to have it really hard when things pick back up!
Life at Smith overall was so much better when SLB wasn't constantly hanging over our heads. SLB is like a giant, constricting snake. It slowly but surely, squeezes the life out of you until you are ready to throw in the towel. Morale is waaay down to the point that even the most positive people hardly crack a genuine smile anymore. Hell, we can't even get some of our production equipment fixed that were major players in daily production. This did not happen before SLB. Our plant management would have recognized how critical this was and had that fixed lickity split. What's next? The utilities? Are they going to auction off one end of the building to pay for things on the other side? Do we need to have a garage sale or donation jars at the gas stations?
I am sure we could Cameron to this list also.
Please, please, sell us!
Trust me. Most MI Swaco employees wish we could part ways with SLB. ^
There are alot of people at Legal WesternGeco that wish Schlumberger would get rid of that acquisition, and I mean alot
Useless MI-SWACO in Houston. Perhaps would leave the drilling mud production unit.
They're closing all the smith locations in houma already. What is left to sell and to who?
they better get rid of some brownnoser-managers
There are alot of people at legacy Smith that wish Schlumberger would get rid of that acquisition, and I mean alot.