This is how you know a scam. A company that is bleeding more than $6 a share in losses over the year, paying out a "dividend" of approximately $20 million dollars in a quarter on a quarterly loss of $62 million. That's like a car crash victim... read more
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Topics regarding layoffs at National Oilwell Varco Inc.
Cost is much more relevant than number of people. If 10% is a number than it will likely be total cost or payroll cost. So you can lay off quantity 5 $60,000 employees or one manager being grossly overpaid at $300,000. NOV hasn't been very effective... read more
Analyzing the situation and climate of our industry suggest that indeed there are signs pointing towards more reduction before the summer ends.
Any word on the Burkburnett facility? Are they still hiring cause I have thought about applying.
Bammel Office is taking away Offshore Techs trucks by the end of Aug 2017. A DE manager took the upgraded bumpers and brush guard from a DE supervisor old truck and he was given a new truck to keep. They also used DE Techs to do all the work. 4 DE... read more
Any news on creekmont? Just asking for a friend lol.
Hey guys we hearing rumours over here regards Elmar?....any info on that?
NOV feels like it is in a bit of a death spiral. They continue to cut to save money, but can't generate revenue to offset the cuts which makes costs go up which costs them orders which creates more necessity to cut jobs and save money which . . ... read more
It seems that National Oilwell Varco is gearing for more layoffs... Not sure when, but this makes it pretty clear that the last round achieved what they wanted it to, so I am guessing they will not be shying away from more... read more
How many will it effect?
what happened to the n.o.v. plant in Oklahoma city ?
So now that they have closed our facility down in Covington and laid everyone off what going to happen to the SOB's in Houston and the AmClyde and Unit product line????
What plant in Texas is closing & it's production is moved to Pampa Texas?
I understand the bitterness and management can and likely is pretty bad, however your predicament has little to do with their performance. Just like most of the textile industry in the US your product is obsolete as made in the USA. It's too cheap to... read more
What happened to 4 big bosses at Creekmont, Paul Pratt, Mani1gram, Kenneth Scott and Eliseo Perez? They got fired last week?
Top notch, quality people, loosing their jobs because the not so smart managment team in Houston refused to listen. Donkeys in suits making decisions not because they know better, but because they purchased their degrees in a vending machine.
With Oil dropping like a rock. HR is going ahead with its last Hail Mary. More like a punt and so it seems next week is booked for conferences. It's one more cut at Eldridge. So I heard from very reliable people
So what's the latest status? Are there any employees left at NOV actually reading this?
in general are things picking up orders getting placed etc? I read a few month ago that 2019 will be business as usual with a $100 barrel, I guess work will be begin now in order to ready the rigs for drilling in 2019 Anyone seeing this yet?
Noob question - how does the 401k match work? I.e. what is the max the company will match? Say my base salary is $42,000 - what is the max on US payroll they will match for contributions. Thanks yall
Anyone heard about this ?!
When will it ever end? :( http://www.aftenbladet.no/aenergi/NOV-varsler-ytterligere-nedbemanning-545246b.html
Random drug testing today at the NOV Tower. Appears they are trying to make more cuts without having to do layoffs.
He is way out of touch in the business. So old he should have retired a long time ago. Just staying cause he can. Pull the wool over managements eyes all the time. Claims all the ideas and glory for his self. Time to go old man. An insurance... read more
Just announced Stonehouse to get 5%pay increase in july
Since NOV doesn't derive much revenue in Gas Compressors for instance they won't feel too much of a hit. There is some overlap but it isn't a considerable competitive situation between the companies. Indirectly, it provides another narrative for the... read more
EU signs off on Baker Hughes merger with GE Oil & Gas. Any idea how this will affect NOV ? http://fuelfix.com/blog/2017/05/31/eu-signs-off-on-baker-hughes-merger-with-ge-oil-gas/
http://www.chroniclelive.co.uk/business/business-news/how-150-jobs-were-saved-13119044 And this is why Gateshead is staying open.
Not too much management can do when the entire industry is going through a massive downturn. Actually there is, you cut costs by laying off people and closing facilities. The investors will know that.
How much longer do the investors tolerate the lack of revenue and stomach the string of quarterly losses before Presidents, VP's and C's start losing their jobs?
So what's the status on NOVOS? I see that they are hiring in NOV Norway.
Mad bill axes shift but this was a long time coming!!! Forties road Montrose time is close!!
More redundancies to come in the UK and Scotland. You could be next
Run from this dead sh--ty rathole while you can. It'll be sold out in small pieces to GE and others & in any case old nov crowd will be got rid of by new owners.
RS Sales Layoffs Coming Soon (June 5th) to NOV Tower... fleet care and capital sales specifically. Turns out we poorly executed it (surprise, surprise) and therefore the customers aren't having it. Move onto the next great idea...