(Reuters) - Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.
4 replies (most recent on top)
This company has been run into the ground! bonuses gone, 40-50% paycuts, ZERO incentives to give a s**t any longer. US land manager started hiring “warm bodies” (literally he said that to office employees) several years ago and they can’t retain ANY jobs because half the field guys are getting messy f—ng drunk off shift and letting kicks in and/or can’t figure out how to install equipment. f—ng embarrassing. As a shareholder I am unimpressed how terribly this company is being run from the top down and the stock price is ridiculously low because of overall poor management.
I wonder what the investors would think about the truth behind the numbers. Walking away from the key folks that kept the house of cards glued together as they got deeper and deeper into asset accounting.
Its not just HAL though many others are drinking the cool aide for unsustainable growth for investors and abandoning customer service and employees along the way.......... They pit internal departments against each other like they are competitors instead of being part of the team.....sad
is Halliburton losing market share?
Evercore ISI analyst James West said Halliburton was "showing leadership by walking away from unprofitable or low return work."
Revenue fell to $5.55 billion, below analysts' average estimate of $5.80 billion.