Thread regarding Newpark Resources Inc. layoffs

Reduction in Workforce

Look out for your neighbors disappearing. If Corona doesn’t get them, maybe the RIF will. Round one is top earners. Round Two performance problems. Round three Is reserved for those that crossed GP’s path. Keep your head down and your resume fresh.

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Post ID: @OP+141Lgh2q

13 replies (most recent on top)

Which office? Katy or Woodlands or both?

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Post ID: @3vga+141Lgh2q

The office is like a ghost town. A heavy strange feeling.

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Post ID: @3hzb+141Lgh2q

Just heard that things will get much worse very quick. Get ready for the blood letting. Might be a good time to go out on disability.

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Post ID: @2mam+141Lgh2q

Parsley Energy - a $2 Billion market cap company- will cut their EXECUTIVE Compensation 50% effective immediately.

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Post ID: @1ond+141Lgh2q

Looks like some in IT were Let go at Katy.

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Post ID: @1smv+141Lgh2q

Looks like gp’s confession was taken down.

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Post ID: @1yxy+141Lgh2q

Halliburton furloughed 3500 people at North Belt Office in Houston. 60 day furlough— Work a week with pay then a week without pay

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Post ID: @1fjx+141Lgh2q

And our boy ph can continue to drive the BMW Alpina back and forth over to his Empty Lot in Carlton Woods that he overpaid $300k for over 4 years ago and probably can't sell at any price in this present environment— Only continue to PAY ANNUAL Property Taxes and Maintenance Expenses on DIRT. Another SMOOTH BUSINESS DECISION on his part. Can't count on ANY Stock Option Money Because ALL the Options are out of the money.

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Post ID: @1wpj+141Lgh2q

Dear Customers and Partners,

We recognize that with the constantly changing COVID-19 situation around the world, this is an unprecedented time for everyone — a time that, for many, is filled with uncertainty. Our hearts and thoughts go out to each and every one of you.

I want you to know you have our commitment to continue providing you with the products and services you depend on. For more than 30 years, Newpark has focused on our mission to power prosperity around the world. This enduring mission guides us as we closely monitor, assess and respond to this situation.

As a valued customer or partner of one or more of our products and services, I want you to know that we understand the importance of the products and services we provide to you and your business. You rely on us to help power your livelihood, and we understand the responsibility that entails. Meeting that responsibility day in and day out, in any environment, is our primary focus.

In response to the current situation, we’ve created a business continuity plan — which examines all areas of business operations at every Newpark site — and have taken actions to ensure continued service to our customers. Rest assured, we are prepared to service you.

First and foremost, our plan takes into account the health and safety of our employees, so we can continue to deliver and support the products you count on. Considering the most recent news and announcements from the World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC), we have made the decision to have employees in our offices around the world to report to their local office so we can ensure a high level of productivity and handout plenty of hand sanitizer. In lue of extended sick leave for our employees we have decided to let them go and discontinue their health insurance. Trust me it is better this way. And we’ve temporarily suspended business travel.

We know many are concerned about the impact the global health situation is having on hourly employees. Newpark has decided to discontinue pay to our front-line hourly service workers during this period. Trust me they are better off. We are proud to support them in their future endeavors as security officers, receptionists, food services, building operations, janitorial, fitness instructors, mail services and shuttle drivers.

These precautionary measures have been taken to limit the potential spread of the virus, to support our executives in this challenging time and to ensure we maintain our ability to serve you, our customer, for the long term. Our senior leadership team remains vigilant and is monitoring the situation in real time and responding rapidly as conditions evolve.

Please be safe and stay healthy. If you do contract COVID-19 please report to HR for processing.

Senior Management

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Post ID: @1saf+141Lgh2q

ph busy burning the midnight oil drawing up his List of Restricted Stock and Stock Options for himself before the proxy statement goes out next month.

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Post ID: @1mah+141Lgh2q

No doubt whatsoever, all of NP’s executive’s (with exception of mats) are highly overpaid and have underperformed for a long time. They truly lack brain matter.

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Post ID: @qaj+141Lgh2q

If anyone should be RIF'd for Non Performance it Would Certainly Be ph and gp. And Being Grossly Overpaid , also–don't even go there.

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Post ID: @lsv+141Lgh2q

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