Thread regarding Schlumberger Ltd. layoffs

Schlumberger Number 1 in the down turn... for layoffs.

As others talk about the upside or bottom of the market Schlumberger are continuing to "re-structure".

http://www.oilandgaspeople.com/news/11775/did-big-oil-layoff-too-many-workers-too-quickly/

Schlumberger are the best at cutting and you have also set the company up to capture minimal of any growth as there are no resources available.

Does anyone at the top realize the industry is run upon unknowns and other engineering or geological challenges that a business system does not foresee as the clients did not anticipate. As a result anyone with a little fat in their organization can scoop up the unplanned work,

Will the glorious Transformation take SLB from the Number 1 Oilfield Service Company to the Number 2 or lower?

by Anonymous
| 2441 views | | 7 replies (last December 10, 2016) | Reply
Post ID: @OP+KMXC4pM
Comment! It's anonymous!

7 replies (most recent on top)

I'm currently trying to get laid off in Houston

by Anonymous
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Post ID: @baa+KMXC4pM

brilliant, almost half of the workforce gone, PK kept on bragging on how good the profit margins were in this downturn, under his watch, compared to previous ones

by Anonymous
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Post ID: @mei+KMXC4pM

Great! Schlumberger is truly the industry leader! Good job, PK!

by Anonymous
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Post ID: @qco+KMXC4pM

They know deep down that there will be no downturn. There is too much oil and if....the 'supposed' OPEC cuts actually appear then there will be less drilling. Not rocket science really. There is far too much oil with loads being discovered (Permian Basin). A gentle study of economics will help the bewildered.

by Anonymous
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Post ID: @nlg+KMXC4pM

85700 as of Friday. I want to say peak was 124000 and this does not include cameron. These are not all layoffs either and can include retirement and voluntary separations

by Anonymous
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Post ID: @fcb+KMXC4pM

BTW, what's the exact number of people who got laid off so far? I bet it's over 40,000 now.

by Anonymous
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Post ID: @dbq+KMXC4pM

Well I am one that has moved on from SLB and all the better for it. However one can not deny the callous nature that the cuts were made. I would not make too many assumptions that the good times will return any time soon, your jobs are direclty dependent upon the active of your customers and only via proxy the oil price, the higher the price one would assume the greater the investment. However companies such as Shell and BP are nervous and do not have a great deal of faith in the OPEC deal to cure the Glut. Also BP believe that because of Shale the value of a barrel is set at $50 - if OPEC cut back {and a big IF} then Trump and Puritt will support any increase in production of fossil fuels for the benefit of the USA. {At the expense of the rest of the planet}. No I would not go back to the uncertainty the SLB imposes upon the workforce, working in the full knowledge that no matter your commitment to your job no one really cares about you.

So all in all I am really glad to be one of the 34,000 it only changed my life for the better, I am happier I have a new career and new plans. I hope I speak for many who no longer work in oil.

by Anonymous
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Post ID: @jpx+KMXC4pM

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