Thread regarding National Oilwell Varco Inc. layoffs

I have been watching how NOV has been dealing with this crises and I must say, nothing like a crises to bring out the best and worst in people. As an employee with over 20 years service, it’s disheartening to see how a company with such illustrious leaders like Beni Reinhokd, George Boydieff, Joe Winkler, Pete Miller have descended into a company with no heart and soul under the current regime. Benefits that were put in place for a reason back in the day, are now being dismantled in the name of cutting costs. But what is absolutely unacceptable is the shocking double standards the company is displaying especially when it comes to retiring long term employees. In Asia, they are forcing employees who reach 62 to take a paltry retirement package based strictly on the law. These loyal people are not even getting their redundancy package which was given out in the past. Basically, the company is taking advantage of the crises to short change the long term employees. The double standard is that there are some employees who are kept on after they reach 62 and probably promised a nice ‘package’ at the end. This kind of double standards are what destroys a brand. I do know that many long term employees in the US were offered the early retirement package with a year’s payout and private medical medical coverage. While employees in Asia are deprived of such benefits. What shocks me is that while benefits in the US are far more expensive than benefits in Asia, the company has decided to move ahead and reduce benefits offered in Asia. Benefits that were put in place in the past to compensate for lower salaries that were offered by competitors. Even the HR leaders here have no clue why such decisions are being made. It seems in the zeal to reduce costs, the head office in Houston have gotten drunk on their power and decided to just slash everything in its wake. If the HR Chief had done her homework and find out why Beni Reinhold, Pete Miller allowed benefits to be decentralized and managed locally, it would be clear as day. But decisions about Asia are being made in Houston by people who have never lived outside the US. Maybe the Finance and Legal people have taken over the company and HR has lost its way. Whatever it is, it is in the time of crises where you see the best of leaders and worst. I hate to say this but our leaders have failed miserably. They are out for themselves. They have lost their moral compass. I stand at the side and watch a great company falter. The emperor has surrounded himself with yes men and women. The back slapping on LinkedIn is embarrassing. The entrepreneurial spirit encouraged by Pete Miller in the region is gone. The compassionate spirit encouraged by Beni is gone. Who will want to join such a company? There is nothing left. I will not be surprised if the leadership pays themselves a bonus come January. God save us!