Employees have done above and beyond trying to make this company survive. Our stock is no good , debt too high. This is totally the top tier managements fault. We have a lot of the same directors that helped cause this. Why aren’t they gone. It’s probably too late. They shorted us on raises for years and will continue to do so. They need to announce some more divestitures soon. This is getting old. They need to give back their big bonuses. And leave the people actually working alone. They should run to bankruptcy court if that will help save this once great company. Shame on upper mgmt, directors an BDD
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Weatherford can still be a great company. They have some solid and strong product lines with great potential. They have highly motivated engineers, fieldhands.
They unfortunately also have some managers who are more engaged in company politics (collecting money) and other not productive activities. Once Weatherford cleans house they can make a fresh start and be great again.
Buying companies with no plan to integrate into the larger company and allowing them to run on their own was no way to do business.
Weatherford bought some great companies that were ahead of their peers. Not having the vision or wherewithal to stay the course doomed them to see those peers catch and pass them.
Weatherford issues happened years ago. Executive managers cycling in and out spending money on acquisitions that didn’t work out getting involved in areas we never should have then leaving with piles of cash and stock. Over and over again for years and the board just watched it happen. Yes it once was a great company....still has some good people who have been let down.
Its called job for the boys even the new #MeToo millennium plastic straw hating anti fracking eco warriors cant fix the job for boys network its fixed in to our business world its not just at Weatherford every big corporate has similar management structure,they will only go when the last employee below them is fired or dies through stress or overwork.