Thread regarding Schlumberger Ltd. layoffs

Why am I not surprised and neither should you be!!

Guys

We all work for a company who made hay while the sun shone. They increased prices and never passed on the massive profits they made to the people making the profits. Now the biggest downturn in almost living history happens and Schlumberger layoff their main resource (their people) to protect their share price and shareholders. There will be a reckoning and it's coming both for current and ex employees.

My own view on this is simple. Schlumberger want to change everything through their transformation......lets change the mindset for all of us. We work hard. We work in a dangerous environment, lets ensure when the upturn happens that we get what we deserve and not be Molly coddled into another upturn with no hope in a downturn

It's not nice or easy to go through what we are. The bad people here are the ones who didn't pass on the gains when they were happening. We, as employees now reap the whirlwind

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| 2511 views | | 8 replies (last March 24, 2016) | Reply
Post ID: @OP+GwvzEXm

8 replies (most recent on top)

When you turn over control of everything to greedy Wall Street bankers this is the corporate mentality you get. Enjoy it Republicans because YOU caused this.

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Post ID: @3zhb+GwvzEXm

I wasn't there in 84 but I know a lot of guys who have now gone because of the recent downturn ( personally I have 14yrs in). That's why I said "almost". It cuts me to the core that we are cutting people to keep the share price artificially high. The downside to that tactic is come the upturn, and it will happen, we will not have the necessary experienced people to be able to fulfill contracts, then watch what the share price does when our SQ plummets. The thought process here ( if there is one) seems to be......cut now and deal with the aftermath when we see an upturn.

In my location we went through 1 round or redundancies and then straight away another round. This shows a complete lack of planning and foresight, never mind how people react to being constantly on edge. Then again I am not surprised as this is how the business has been managed to a large extent over the last few years

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Post ID: @3ipc+GwvzEXm

Oil price has nothing to do with a recovery..if they can't sell at less than $30/barrel then they are not going to sell at $40. There is too much oil and not enough is being used. This will continue for years.

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Post ID: @2red+GwvzEXm

Were you there in 84? It was worse then.

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Post ID: @2tcn+GwvzEXm

I could not have said it better or agree more, I hope it it comes back on Schlumberger 10 fold as bad as the way they treated the ones who really deserved to be rewarded for being at the tip of the spear.

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Post ID: @2bum+GwvzEXm

How do I get my $18 mil bro?!

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Post ID: @1bbr+GwvzEXm

Summarized the mentality very well.

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Post ID: @1row+GwvzEXm

Excellent post and spot on! Hang in there.

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Post ID: @lcq+GwvzEXm

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