Thread regarding Weatherford International Ltd. layoffs

Weatherford is failing

Weatherford is failing and we all know this. I still do my job everyday cause i am limited on choices to where I can go due to small town. Management is a joke and anyone with eyes can see this. Weatherford is a joke in the field and that is sad that this is not being looked at. When I hear we are even a joke to a company like Nabors, that is a issue to me.

For the first time sense the ship started sinking, I heard our district manager say he has pretty much as no faith in the company after that conference call. We all get on here and rant/rave but not a soul us stepping up to make changes because why, we can't. We do open our mouth and we seem to be targeted after that. I would love to say a name on here but best I dont. We have one so called manger that has been moved from job to job and does nothing but s--- funds from the company. I am sure we all know that one person on many parts of the company. I have been lucky and held in the game this long. I will stay as long as they let me. Jobs are hard to find. Praying for us all. Good luck everyone.

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| 1962 views | | 6 replies (last August 23, 2017) | Reply
Post ID: @OP+OFiU6x4

6 replies (most recent on top)

Isn't that where Weatherford is moving all there manufacturing?

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Post ID: @flwj+OFiU6x4

Chinese cookie say if no money come in then soon go broke.

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Post ID: @flmz+OFiU6x4

So a lot of changes in the "C" Suite at WFT this year so far, how much more will be coming I wonder.

Question for the board here - how long does it take for an effective management team to affect change in an organization, WFT in this case? Given that there is a lot of middle management that does not see the big picture and prefers to stay in their own little silo. Debt is 3/4 of a Billion dollars. Revenue is still negative. Free cash flow has not been seen for some time and has Never been consistent. Employee moral (standard workers) is lowest ever with the most to be happy for is a check only. R&D has effectively been shuttered in most every product line with much of the talent released or soon to be released, thus, Future of tech that was not ready to go will now be pushed out further. Processes are still being standardized. A lot of Senior folks have left for other opportunities, said to have left for other opportunities (laid-off), or have been demoted.

How long to fix that? With stock sub $4 currently, will there be enough time? What do they sell off to make their interest payments (will give you OneStim pulling them through this year if it closes).

On the positive, they did get a Silver Award for the Best Annual Report.

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Post ID: @fagx+OFiU6x4

Ouch

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Post ID: @eany+OFiU6x4

RIP WFT, sorry I meant RIP Glenn Campbell...

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Post ID: @1mrl+OFiU6x4

Weatherford has and always will be the biggest joke in the oil patch ! Quit your crying and get back to work !

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Post ID: @xlg+OFiU6x4

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