I got a preview of the forecasted numbers. If it stays this way additional 20 to 30% work force reductions across the company will be needed to survive.
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Look guys.
No more layoffs for NOV.
Have you seen how worthless houston service managers and supervisors are... how fo they still have a job... as long as they are still employed there is no way they are done laying off
As long as middle management still has a job they are not done laying off
Now Wait,,, didn't an executive get on here and say there would be no more layoffs. or was he just full of s**t
Sinking ship nov will be in bankruptcy before long
Sooner proactive is better. But id–t C-Level committee consensus cannot be found. Too many fiefdoms to fight over politically.
Waiting until it is an emergency makes any decision seem ok. Knee jerk reactions are not mature management.
Crazy thought, but maybe NOV could work on restructuring its processes, creating more market penetration or Outsourcing non-core activities rather than laying people off arbitrarily.
Why wait? Do it now!