NOV Inc. (NOV) on Thursday reported a loss of $50 million in its first quarter.
The Houston-based company said it had a loss of 13 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
https://www.miamiherald.com/news/business/article260870317.html
And we're hiring! They really don't think things through.
You have to bring a lot of flexibility in order not to get RIF’d. I do security and gossip columns so I bring additional value to the group. I take a lot of PRIDE in my work and it has become a tradition that I have passed down.
Lay off people who make the product. Make more incompetent people managers and give them bigger bonus.
It’s the Nov way
Incompetent leadership team.
Same story as previous quarter. Big Oil reports billions in profits, and NOV reports millions in losses. From what I have seen, NOV is the only major oilfield products & services co. to report a loss. What gives?
$50 million! And it has been millions lost for years now. How do they stay in business?
The vicious cycle of losing millions & laying off worker bees to fix it continues with no end in sight. Approaching 10 straight years of this nonsense.