Thread regarding Schlumberger Ltd. layoffs

I don't deal with Russia or ever contacted Putin .fake news

This is NOT a hi-tech business any longer. Operators easily drill & complete long-reach laterals with minimal science&technology. No need for LWD, open hole logs, high tech geosteering, Petrel, completion design, etc. It's just the evolution of a resource, just like coal. Reduce cost to make money for share holders. Go find another industry if you think your that special & talented.

i have dog training certificate with perfect score, can i apply??

this is HUUUUGE

Let's not forget, that this shortage of experienced talent will equate to an epic recession in productivity that by the time senior management figures this out (probably only from an inability to meet analyst expectations and loss of investors) will be unable to rehire this level of experience or will try to attract that experience who left for other industries with pay scales of EPIC proportions!

-bmd

Absolutely true. Let's face it, the whole industry around the oil is shrinking and will keep shrinking in the future, maybe not for environmental concerns but because everything is becoming more efficient. Cars use less gas, trucks use less gas, heating and cooling homes is becoming more economical and solar panels, even if are just a drop in the water, start showing up on the roofs of several new homes. Computers need less electricity, refineries are improving their productivity, oil extraction requires less tools and less energy and we have a way better way to extract more oil off the ground.

I don't want to say that a current student which is enrolled in a petroleum engineering is dumb like a rock, but sure it is that I wouldn't bet 40 or 50 years of future career on it. Therefore, a guy with such "vision" is a perfect candidate for SLB. Go there, get in and as soon as you get paid enough or old enough to know something, get kicked out.

In the meantime Slb will continue to attract grads who can't get a better job elsewhere. Those with better grades will join companies with bright prospects not companies struggling in a dying industry.

I wouldn't hold my breath about it, especially if you are one of the experienced employees who got the pink slip.

First of all, most of people laid off from SLB got flagged as non-rehireable, so, unless you still have a manager inside who really likes you and want to go through the paperwork to unflag you, you are done with them. And yes, while theoretically people might be still upset about it, usually, unless they are going to change the internal policies again, going back means also to get back your grade, seniority, and all the perks, which is not too bad especially if you already had 5 weeks of vacation, a decent PIP, and a good grade.

Second, they let go a lot of staff which was experienced (read older and well paid), in favor of youngsters with a lot of paper attached to the wall (read poorly paid and on work visas) so they can lower the median pay of each division. That means they will do what they always do, go to job fairs in colleges and lure recent graduates with promises of a brilliant career in a company that right now is incredibly top heavy with very little room for progressions. The only theoretical good news is that for experienced positions they will not sponsor any visa, so they will have to pick locally, but there are only few positions available and most requiring advanced degrees and several years of experience, but not so many to include people in their 40s or more.

The best option is still to move on and work in some other industry and wait late 2018 or 2019, when, if the oil picks up again, they will really be in shortage of talents and former O&G people might also have accumulated extra experience in other fields.

Sooner or later, the market will be back, but don't forget how the big blue and those arrogant frenches treat their employees.

Ya right, if you're naive enough to believe those clowns.