The worlds # 1 mud company is being destroyed piece by piece - key people are leaving in droves, others hang on to get the pay off and motivation is at an all time low
They fill the vacant places with SLB robots who have no knowledge of the business but know the politics and are willing to tow the party line
A total disaster for investors and employees
SLB has some of the most incompetent managers in the world! Don't let the numbers fool you! The only way SLB makes money is by buying companies that make money, and then "integrating" then into bankruptcy. M-I SWACO is corrupt...haha...M-ISWACO US Land made $1B in 2011 and held the market share in all segments. SLB started implementing their management team...where is M-I SWACO?? All but gone! Just like Dowell, Pathfinder, Smith companies, M-I SWACO...not to mention what happened with Ankor Drilling. Bit of history for you SLB f'tards...SLB bought Ankor...then all but bankrupted it....then bought by Smith, who was then sued for owning a monopoly (by owning Ankor Drilling Fluids and M-I Drilling Fluids), after bringing out of bankruptcy, and now Ankor is still strong and going!
SLB is also a company who allows managers to sexually and racially discriminate against employees who aren't "their" people. SLB beats their employees down to nothing then discards them for new freshly graduated engineers...who know less then nothing and are completely uncoachable. SLB deploys the methodology that education trumps experience!!! Wrong answer in this industry.
SLB doesn't give two craps about their people...period! One of the worst companies I have ever worked for. After 12 years with M-I SWACO, I was replaced by a 3 year intern who was of racial and gender preference!
I personally saw the company destroyed by the "Schlumbots"!
If SLB managers would be more than desk jockey managers trying to check as many boxes they can while filling out a pitiful CNP then maybe the company would grow instead of shrinking in the downturn even with acquisitions. Any managers that are left are just POSs and move jobs every 9 months to 2 years...anyone can look good coming in ... RIF some people. get rid of assets and the P&L looks good...pat on the back move on and screw up another segment while moving up the ladder...
What a joke of a place it was to work seeing all that BS happen. The only way SLB remains the biggest O&G service company is buying the competition out of the market...well Cameron is next. Heard that Vegas has bets on Cameron revenue being 50% less in 2017 than what it was in 2015.
Lastly, please leave NAM and go somewhere else, or put some Americans in charge of NAM, all levels. SLB is a nuisance to the producers in the US. The good ole' boy Americans get tired of dealing with dorks from the Middle East who will not go to an old fashioned baseball game and drink beer for entertaining.
Funny stuff
https://www.youtube.com/watch?v=5gI920zxboI
Well, - as an earlier M-I SWACO employee I saw this coming ... so in 2010 I wrote a long email to the chairman in SLB, - Andrew Gold explaining the tendencies .... and explained the motivation and de-motivation factors in the company.
He replied and was grateful for the information ... but when he handed it over to the "organization" ... and it came down to us ... they had no clew how to deal with it ... beside of giving me a "warning" ... :-)
Sorry to say it, - but the SLB system has been its own enemy ... and too many are consumed by the "position" thought ... but I guess things will change now ... :-)
So Mi Swaco is corrupt discriminates? Pretty strong statement to make as you posters hide behind anonymous IDs! Is the company perfect? No it isn't. Schlumberger has its process and way of doing things that we may not like or agree with.
Bad management comes and goes management thought process and procedures change. I am personally hoping I can stick it out until things changes. If not there are plenty of other companies that would pay me more than I make now and actually appreciate my blood, sweat and dedication to becoming and being a better company than our compatition as a basin, country, and global entity.
First of all mi swaco is not corrupt. Second of all I'm sure none of you are employed by Schlumberger or they are paying you to say the nice things you are. I do and really all it is here do this and that oh and this persons job but we will just keep paying a little more than minimum wage. Mi swaco brings Schlumberger alot of money and it's not because of Schlumberger management it's because these guys bleed orange and do what we do for the guys busting knuckles beside us, so honestly if they like failure they can just keep doing what they are doing.
Perhaps it's better to have SLB robots than those corrupt MI Swaco managers mentioned somewhere below. One would hope that they don't stay long, at least robots don't discriminate against races and religions!
Schlumbot?
Actually the correct term is Schlumbot. Don't offend robots with such a comparison!
its the latest development in AI - humans are no longer required in Schlumberger for management positions
The cost savings are significant and should help the share price move up and ensure the dividend continues to increase going forward -
SLB robots - that's a new term for me, did not know that we had robots.