Novatek, Omron Oilfield and Marine, Inc., Cameron, Peak Well Systems and more...
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TRANSFORMATION means that there will be more jobs that can be displaced by robots and avoid more SLB layoffs
Is this a joke? What do all the layoffs in wireline mean to you in the past 2 years?
Acquiring companies means that there will be more jobs that can be displaced by |SLB wireline engineers and avoid more SLB layoffs.
In addition, GE can acquire SLB in the future. GE is a much bigger global company with various technologies to truly innovate this industry. This is what industry leaders should do. It's all about growth by merger & acquisition as well as economies of scale. No human factor is needed in this process.
More assets should have been acquired and even more people laid off. It's hard to refute the facts.
I know this guy -1bko! You are the same idiot who rambled on "modern job market" theory and advocated ridiculous SLB executive compensation on somebody's previous post, RIGHT!?
"When you are the size of SLB you can play like a bully"? HaHa I hope you get jumped by a big bully tonight!
There is strong smell of Kmart here.
So, just like I suspected, your knowledge is based on internet and your own little speculation.
Because it's a strategic move. The removal of weak spot from the market and acquire the total control of the supply chain. Add also a bunch of patents, which now are under their (SLB) control, and some of the know-how. This is not a mom and pop enterprise which is based strongly on a specific community. The little company which has strong ties in a certain place has to maintain a good image with his employees and potential employees, otherwise will just fail. When you are the size of SLB you can play like a bully because they have the money and the power to do so. They did it just because they could and that showed to the investors that they want to grow.
Look at the views and reviews of SLB in the various job search websites, the comments on linkedin and other sites like payscale and glassdoor. Besides few bad ones, probably from disgruntled employees, mostly there are good reviews, mostly given by young "studs" who where hired recently and they are happy because the pay is good, the environment is challenging and they see room to grow up with all the layers of management and possible career path.
They don't need to take care of that, they don't care about their human capital, but they want more assets, technologies, and control over the market, at least until the government doesn't block them because they are on the verge of becoming a monopoly which can drive the prices in the direction they want.
SLB didn't post losses in 2015, Baker, Halliburton, and W. did. In 2016 posted way less losses than the others and now the analysts expect a stock rebound around 25% in one year, while the others are expected to grow around 10%.
I would say that such ratings are attractive for investors, more than loyalty to the people who helped to build the company.
So, to your POSITIVE eyes, how did these acquisitions POSITIVELY change SLB? Do you have any useful comments other than what you just read online?
I wouldn't say that paying $15BN for Cameron was a huge discount or strategically sound. Continue to wallow in your lack of economic savvy and glaring stupidity in the face of a stagnant and declining market
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This seems both reasonable and shrewd. It's their job to lay off people during a depression and to acquire strategic assets at a huge discount is sound investment. If you would do neither then that is why you'll never reach the top tier and continue to wallow in your negativity.