Walked into office this morning, bumped into armed securities guarding the entrance and parking lot. Never seen that before. This sure provides the management some sense of secure and comfort while guys on the shop floor are getting sh-- canned. Feel disturbed than knowing people are losing jobs. If you were gutsy enough to make a decision to take away peoples' livelihood, then at least have the ball to face the fell out.
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Well based on how Schlumberger has screwed over several of its employees, do you blame them lol? Mind you many of these these workers laid off were loyal and dedicated and have worked overtime every time needed when the going was good during the boom days. Now they are being throw out like trash bags into a trash dumpster.
Which facility?
Which site were the guards at?
They are not making rediculous profits; quite the opposite. They took on huge debt. At low rates but still huge. Carrying on the illusion that they are a respectable technology MNC on Wall St. Come on, look around you. Would you buy their assets for what they are being kept on the books, if ever. This thing is nothing but smokes and mirrors...
+1.
It's all about financial engineering and layoffs.
However, some SLB eggheaded workhorses keep selling to investors that's all thanks to their "proprietary" transformation plan.
The problem is, hard times seem to be still ahead and the Creditors are still behind.
All the best of luck to the company and its good people.
This company let go almost 30% of the workforce in the last two years, is still generating ridiculous profits and the stocks have been upgraded from hold to buy. The stock price and trend is matching 2013, when the company was hiring and growing like crazy. The stocks plummeted at $60 in Jan, they are above $80 now. Someone made a fortune out of it and the workforce is paying for it.
I guess if I was screwing someone so hard I would have been afraid too.