Those big guns were part of Weatherford’s RIF today. None of them were seeking to pursue other endeavors. God Bless everyone who took it on the chin today.
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who went are where from ?
There were more layoffs today but a lot of people got their Q4 bonus checks yesterday. I would expect the good people left to jump ship anytime soon within the next month.
New Dir of Comp Mfg will come in the new year. The transformation Dir’s are heading for the exit too, the damage they’ve done has not gone unnoticed.
I thought the VP of Mfg and Pres of Comp were looking for a new Dir of Comp Mfg? I guess that went down the drain now.
Agree with @12xns0FD-3upi on the points put up.
I would also echo that Sr. Managements role is not to know the tools and how everything is done, they are there to provide a vision and guide the direction of the company.
Unfortunately the upper management at WFT has failed in following good business practices, as pointed out, and they have also failed in providing a vision.
You can even go a step beyond Sr. Management and point to a Board of Directors that allowed the lack of vision to be tolerated, did not demand integration of all those companies they approved acquiring, and did not demand Management work with the best interest of the company in mind. They did all this while collecting their retainers and perks for coming to meetings where no one was held accountable for doing their jobs.
How can anyone expect things to have gone differently - Ineffective Board of Directors, C-Suite with no communicated vision and unaccountable, middle management promoted to higher and higher levels of responsibility with few having skills to manage, Supervisors that although they may be knowledgeable need some soft skills, and field hands that start with a fire but soon become a product of a broken system and simply ride it until the wheels fall off, they get something else or are shown the door.
Let's hope that the new Board Members will take their job serious, that they hold C-Suite accountable and kick them out without a golden parachute if not effective, that Middle Management gets some training on how to run a business properly (not previous practice as shown to them), that supervisors get more effective and that field hands again have pride in working for the company and that is reflected in their work and interaction with the customer.
knowing the tools/kit is not going to fix the problem with management. The issue is that they allow poor business practices to prevail. If something is not profitable, work if for a Q and if there is no sign of change - cut your loss. Hold your supervisors (who should know the tools/kit) responsible.
Manage the business and it does not matter if the guy you know is running a region/product line/ team - if he is ineffective show him the door.
Agree there are a lot of good field hands, but some are pretty lazy as well. End of the day there are issues up and down the WFT employee chain and the ones on the bottom point to the top and the ones on top lump it on those below. The fact that no one works together in the "ONE WFT" imaginary world is testament to a broken system. So if you are a field hand, work or find a new job - you are not going to be promoted and you should know that already, if not you kind of deserve what you get. For the mid-level guys, get to looking, you have an inflated title as that is what they did to keep you there - reflect a bit, you likely don't do what is needed to truly deserve it as they have not provided you the skills needed. For Sr. folks, well congrats on running a company into the ground and keeping your friends around you while doing it.
Here is the main problem of WFT: How many mid/upper managers have the knowledge and experience to tell their employees how to perform their tasks? I bet the majority of the managers (directors, VP, champions, PL Managers) have never touched the tools that their field teams deploy, period.
These guys have been taking it on the chin for a while. Guess how they stayed around for so long.
We could be so much better if they let us lower level guys move up and make things better. They $hit on us and cause to keave to other companies and use our flaws against us to ruin us more. Its crazy the lack of respect toward the field guys, ir should i say the revenue generating folks.
It does seem that only external candidates are considered. The only way an internal candidate could get those higher level positions would be to leave the company for a while and get hired back in as Director or VP. There isn't any system in place to identify and foster the growth of high performing employees.
If a company as large as Weatherford doesn't have any employees that even merit an interview either they don't know the qualifications of their own workforce or already have decided to hire from outside without looking. Either way it's a management failure.
When the new VP’s come in the clock starts ticking on their direct reports WFT careers. The top guys going is only the beginning.
All managers are getting told that they perform or they are out.
Through out my Weatherford career all I have seen is e-mail announcing the arrival of some outsider (using Haliburton/Sclum ex) . Big bucks job etc etc, welcome etc etc. Looks like nothing has changed .
hiring freeze and all promotions on hold...SHOCKER! its been that way for the past 10 years....
Internal candidates? That’s hilarious.
The ol' hop man got canned? I don't believe it
We were told there was a hiring freeze and all promotions on hold. Yet the replacements start in less than a month. Wft has never hired someone so fast! Was there not any internal candidates that could have done those jobs?
Where did the new Mfg VP and Completions VP come from? Halliburton?
The new President of Completions appears to have limited Completions experience. The new VP of manufacturing lasts 2 years in a job and then ‘leaves’ he’s either very good or...
As long as they both remove the dead wood below them at VP and Director level. Surely they’ve not been hired to keep things as they are?!
i bet they got a nice bonus check while exiting the building.
they will start there own company soon with the "missing" inventory.
Surprised they haven't cleaned house before now. There are still plenty of folks at Director level and up that have been in place for years despite the fact that they never seem to be able to right the ship. Inventory mismanagement seems to be baked into the cake at Weatherford.
Also, VP of Sales got it on Friday
I think they need a bigger broom. A lot of fur balls still learking about.
If true MH our the door - about time! Too bad it didn’t happen years ago!
All fired due to inventory management (or lack of) $68M of inventory not required and no one taking blame, so all 3 were released due to this.
Feel sorry for the eventual buyer tbh, imagine inheriting the incompetent Weatherford management lock stock and barrel. A recipe for disaster if ever there was one.
More to come this week and next week,
Window dressing
President of Completions, VP MFG, VP of Sourcing & Logistics.
So who is, "Pursuing other interest" as WFT likes to say? Which leadership members were shown the door?