What are your thoughts about potential National Oilwell Varco Layoffs 2021? Any news or rumors?
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What's it all about Alfie?
Any UK jobs at risk
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HR corporate Singapore just announced this afternoon they closing NOV Hydra Rig Pte Ltd in Feb 2021 and all employees will be axed.
All Hydra Rig Singapore jobs will transfer to NOV Hydra Rig in UK.
I expect many more layoffs to come. The world is moving towards green renewable energy and Praise the Lord the US will soon be onboard. As the saying goes, you can get with the program or become irrelevant like the dinosaurs.
I would predict yes, a lot. NOV acquired dozens upon dozens of companies and Pete's motto was, "you keep doing what made you successful" and they never became NOV and they frequently competed with other NOV facilities just around the corner. After a while there were hundreds of facilities doing the same or similar work and they never worked to consolidate because business was coming in. High revenues cover up a lot of ugly. That is why the measures look so drastic today. Unless there is a miracle with COVID and O&G is suddenly in massive demand then, yes they will continue to downsize.
Yes, Orange is closing the doors within 7 months. Sad to see but inevitable considering the globalization of manufacturing and costs in California (high tax) and real estate value literally in Disneyland shadow.
I have heard the the Orange California location is currently being shut down anyone know if this is true?
Many closures still to come. Imo its headed to Saudi and A.B.'s favorite land, India.