The Transformation was going to be the big game changer but Schlumberger still can't compete and doesnt make money. The company in NAM has been "transformed" into a big slumbering cash eating machine run incapable of making money in the worlds biggest shale market and the same is happening all over the world. SLB is a big sell right now and will take another credit write down this month
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They gotta remove the "champion" titles, these people do absolutely nothing.
Right now there are a bunch of disgruntled old farts on the Halliburton board saying their company won't be ready for the eventual turnaround either. Guess what? Those old farts will come to SLB and SLB's fired old farts will go to Halliburton.
There ain't no fixin it. When the market turns around and all of those senior experienced people have moved on to other jobs or retirement. The young suck ups that are left won't have a clue how to make it run.
Big layoffs is the only solution to save NAM. Shut down the non functional units(d&m). Don't worry about very low margin jobs and release that staff (SiS). Sell malfunctioning equipment (ws). Don't create fake managerial titles without technical skills to save suck ups. (Everywhere)
Or be tits up by Q3!!
The country of Venezuela transformed our revenue into their pockets. Why did upper management allow us to keep selling them goods when they knew they couldn't pay us. Way to go!
I can't even imagine how they are hiding the increased costs of doing business via the transformation. They may be able to manage by spreadsheet during boom times, but they will need talent and skills to operate during these tough times.
Low grade low pay- work while you can
Management suck ups and team leads - stab and step on others to stay
transformation >>>>> laying off all those senior guys to reduce costs
it sure has failed big time and now they laid off all the senior guys who knew this business inside out this market aint ever coming back for them