The bottom line is Weatherford is doomed

Start looking for another job, because eventually the company will go into administration, McC is already a de facto administrator of sorts but has a certain amount of leeway and options. A court appointed or bank appointed administrator will be ruthless, and you will be lucky to get a basic salary every month. As others have said the proverbial s..t will start hitting the fan towards the end of 2019 when upper management start to bail.

As it is the company is unsubstainable, and drastic swathes need to be made at VP/management level as this top heavy style is heamoraging money every month on non productive personel.

Miracles can happen, but in Weatherfords case it will have to be divine intervention as there is no will at the top to implement the changes needed.

The bottom line is Weatherford is doomed.

On point post from @VWeNBnB-1col.

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There are still a lot of good employees in Weatherford who are working hard and are technically sound engineers.

If managed well the company can surely make its way out of this crisis. Be it maybe in a smaller division.

I used to work for Weatherford. Their system in place in that time was very well. They work with good software and the way they set up their management per region was great. I was just a engineer and appreciated the opportunities to work with other fellow engineers worldwide.

Think about this for a minute....winning and doing jobs usually require letters of credit. Assuming most of WFT’s lines have dried up (and even if they haven’t), they either then need to put up cash or issue from their main credit line. How much do you think they pay to issue an LC....5%+!! How are you supposed to be competitive against SLB’s or HAL’s, etc. when you pay that much just for the LC?? You can’t, so take a job at a loss, or minimal margin just to generate revenue, and with 7B+ of debt that math doesn’t work. They are in too weak of a position to really compete at this point, so they should just hit the reset button in my opinion...

Thread regarding Weatherford International Ltd. layoffs

The bottom line is Weatherford is doomed

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