Thread regarding Schlumberger Ltd. layoffs

Maybe if SLB did not spend money so frivolously....

Case in point - do you know any product group managers who fly all over the world and constantly take the whole entourage to the finest restaurants even amidst layoffs?

At the end of the day, they probably did a favor to most they let go by freeing our conscious and allowing us to work with the companies who are in a position to continue their business plans without worrying about the losers on Wall Street who know nothing about the oil business. First, the downstream businesses are going crazy i.e. low oil prices means cheaper to make plastics. Also there are companies who are not slaves to Wall Street who are still doing well. Let the losers like SLB and Halliburton wallow in their own pride, arrogance, and stupidity while us winners move on and not even look in the rear view mirror unless to flash a middle finger their way.

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| 512 views | | 3 replies (last January 24, 2015) | Reply
Post ID: @OP+zIiy7qI

3 replies (most recent on top)

Heck yes companies are hiring. Just because a couple losers have to dump people to make a couple Wall Street losers happy doesn't mean the whole market is tanked. Couple examples - 1) The downstream Oil & Gas business is ramping up very rapidly. The low prices benefit them. Refineries want all the cheap oil they can get to make and export plastics etc... 2) Privately owned companies who do not have to change their business plans to satisfy Wall Street. 3) Joint Ventures 4) Small companies with large parent companies backing them or otherwise bank rolled.

SLB and Halliburton are not the only game in town or in the industry. They are just two losers not built to take advantage of a temporary price drop. While the big boys are hurt, there are others taking advantage. That said, it is obvious the market is still tougher at least in certain aspects of the industry and companies can afford to be picky. But there are still winners out there who are doing well now and did well in 2009 and other down markets without having to layoff.

Too bad for SLB and Halliburton. They are losing experience and talent they will never get back.

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Post ID: @N3E+zIiy7qI

so which companies are these and are they hiring? Even with this price of gas?

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Post ID: @50s+zIiy7qI

You mean like CEO Kibsgaard spending over $100,000 of company money to have his company car armored - bullet proofed?

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Post ID: @4yx+zIiy7qI

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