What did they announce today ?
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Face facts. The volume is in China. How much business is ExxonMobil, Shell, or BP giving SLB these days to justify them dictating terms. You can choose to believe what was announced or you can smell the coffee - CHPC will be moving.
The management sweet talks to the employee to build up the moral while working on an exist plan in the background
So, monster layoff next week it is then :)
CHPC is doing well, it is not moving or closing; in fact it is growing. SLB will be fixing up the facility, we are getting a new test bay, and SLB purchased 3 companies that will join CHPC. So things appear to be health for CHPC. CHPC appears to be doing better than other completion groups per what was communicated in the Town hall meeting. Also, CHPC can not move to CMPU or China because Exxon Mobil and other clients want them to stay here.