Paal is so disconnected from industry and his own company. He said in Jan that no more layoffs. Then in Apr, he announces that we executed 8000 jobs.
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More layoffs at Rankin road Bits, for the last 2 weeks. Secretaries.
, shop people, haven't heard of it affecting any managers.
He's a liar and a crook. Despite all the layoffs he still took home his $30M
Well this Oil bust has been more severe than most companies have planned. Most thought it would be just like the 2008/2009 bust; bounce back less than a year. This bust is like the 1980's, lasted for 4-6 years I believe. Saudi is playing the 1980's game all over again, most should of looked back on history and figured out what their plan is. One thing is for sure, it isn't coming back in 2016, talking about 2017 is wishful thinking, 2018 sounds like a reasonable guess. Oil Co's will drill a hole here in there of course, but going back to the Boom #'s will take a few years if its even possible. We got Oil running out of our ears all over the World. But again, no one can predict it and everyone has failed up to this point. All they can do is continue to throw the axe on the small pool of people that still have a job. Good luck to the ones left and if the axe hits you, grab a 30 and buy a steak before you go broke for one good last meal.
Yep. Funny man like those funny puppet management from a regular supervisor to PK.
More layoffs to come in the upcoming months.