If the market makes a turn soon, do you think there will be Weatherford Layoffs 2020? Any news or rumors?
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How many latoffs in US? What is the emoyee count now?
Yes confidential confirmation received that month of December WFT will commence lay-off plan 30% of employees. Merry Christmas 😤
Post Chaper 11 filing to remove debts. September 2019 company wide conducted a Reduction in a Force (RIF) to slim up company waste. Closing Oklahoma and Louisiana facilities. October 2019 the US Geozone restructuring slimmed up management. Happy Halloween, the Chief Financial Officer (CFO) is let go. November 2019 revenue numbers below profits. Sales contracts effects product lines. Service and vender contracts cancelled. Results effective November 19, 2019 US Geo-Wireline is dissolved. Facilities to be auctioned off, tools rented out to third party competitors, and equipment shipped overseas. Non essential personnel let go with severance. Engineers offered overseas relocation pending offer letters (since October). Employees on a L1 visa must find a sponsor or go home (will not renew). Super centers US Geo-wide only seeking to employ local only, getting away from employee camps and hotels. HR Director to HR managers to senior HR specialist are hesitant of out of state applications. Posted opportunities don’t reflect actual openings. Management is very concerned of image, requests all employees not to disparage the company following the layoffs. Stressed social media and news agencies not be informed, including all employees completing CBT’s prior to layoffs.
When you call the Benifits department to liquidate your $, you can’t because weatherford won’t sent the termination letter taking employees off the books. That affects any severance pay issued (still taking out from the check for the next two weeks).
how many names?
There is no guarantee of employment. Always be ready to be laid off at any time for any or no reason. This is rule number one
Hope everyone in the US has a happy Thanksgiving holiday because the first week of December the hammer is coming down. The names have been handed down to their respective managers. God Bless y’all.
I've heard from several sources in Europe that once we emerge from CH.11, there will be a 30% Global RIF count. GZVPs have been fighting it but there will be some RIF Dec/Jan.
Each vp is responsible for his assigned product line. Then each area and district mgr is responsible for the regions. Its hard to p–p out good numbers when youre not getting the work because customers are afraid to use wft. Wft has one of the worst salesforces ever seen. Customers hide when the wft salesman shows up
Did you get a package? so sorry for your loss
The layoffs started right after the Chapter 11 announcement. I would expect them to continue throughout the process however long that takes. It's been a long time since there was any genuinely good news coming out of Weatherford.
They need to trim the top, VP’s (theres a lot of them)that gets paid ton of money. My belief is that WFT is to top heavy. Salaries for them is extremely shocking. The hard working Joe gets let go because he earns to much. Not fair. When will the banks wake up and clean house, before more goes into the pockets of VP’$?
Just got layoff today this morning.......
They are already laying off people and have been for months.