Thread regarding Weatherford International Ltd. layoffs

Houston-based Weatherford International laying off 6,000 workers

HOUSTON, Texas (KTRK) – Weatherford International, a Houston-based oil and gas service company, says it plans on cutting 6,000 employees due to the current oil market.

The company said that's 25 percent of all of its employees. About 24,000 workers were employed at the beginning of the year.

Sources tell ABC13 the layoffs began in Houston last week. This is the largest workforce cut done at one time amid the COVID-19 outbreak.

According to Weatherford, the impact of the pandemic has had an unprecedented disruption on the supply/demand equation for oil. In response, Weatherford supplemented its cost reduction initiatives with a number of actions, including:

Temporary pay reductions of 20 percent for management and to the Board of Directors' annual cash retainer.

Total headcount reductions across North American operations and the global support structure of 38 percent and 25 percent, respectively.

Furloughs and pay reductions for remaining employees in the U.S. and select international locations.

https://abc13.com/weatherford-weahterford-layoffs-oil-and-gas-jobs/6108315/

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Post ID: @OP+14w8xtK8

13 replies (most recent on top)

Will there be enough field hands to handle it when the business picks up? Waiting 2-3 months to hire someone back will cost the company alot of business. Things in the patch happen fast and WFT is the slowest to react in the industry! But I'm sure they have a Blue Chip plan.

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Post ID: @Afoh+14w8xtK8

Is there enough people left to justify all the VP’s and what WFT pays the CEO?

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Post ID: @ygqm+14w8xtK8

What !!! Weatherford laying off again? WOW shocker ....

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Post ID: @3esf+14w8xtK8

To ‘Liferdog’. I’ve been through this rodeo multiple times. We could have a serious discussion about the state of the energy business, the economy, and the future of Weatherford, but I seriously doubt you could keep up. Stop insulting people and do your job. It is far more difficult for this board to be pleasant rather than be a [email protected]$&. Straighten your own house before you try to straighten others.

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Post ID: @2vlt+14w8xtK8

To "The Scare Tactics Stopped Working ". How naïve are you? There are no jobs being recruited. Apply to one and see what your get. The WFT HR group is too incompetent to shut down the website recruiting tool. Weatherford is being s—ed in to its own vortex and either someone will acquire them or they will no longer exist in a short period of time.

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Post ID: @2fyh+14w8xtK8

I think this article is bogus...starting with ‘Houston-based Weatherford’. Weatherford is based out of Switzerland. Also. Check Weatherford’s website. There are job openings listed as recently as two days ago.

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Post ID: @1ayh+14w8xtK8

All these people are complicit in breaking wft down. All these c-appy area managers and dirtbag dispatchers making huge mistakes repeatedly

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Post ID: @1jyf+14w8xtK8

Good guys were let go, various mid-level management and engineering support staff are gone....it's week two of the cuts and I can only count 15 cuts that I've heard of...6k sounds kind of outrageous unless next week will be a bloodbath....

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Post ID: @1ylb+14w8xtK8

Anyone else thinks this is a bogus article? Seems they just went from the number that was announced this week (%25 cut on global support structure) and figured that since Weatherford had around 24,000 employees around the world by the beginning of the year, then 25% of 24,000 is 6,000 so BAM! there is your news flash.

I doubt that 100% of the company is considered the global support structure....

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Post ID: @dzi+14w8xtK8

The company will be in limp mode after these cuts....was already cut to the bones before this announcement

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Post ID: @dny+14w8xtK8

Read the email from the Boss and press release, only ones going to be working at WFT are Magnus RSS and the other 2 PL’s

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Post ID: @kko+14w8xtK8

Who knew we had 6000 field hands! Too bad management and useless non-essential jobs aren't getting hit.

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Post ID: @nvh+14w8xtK8

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