So, If all of the cost savings/ reorg have to be in place by Jan 1st.
When are the layoffs coming ?
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It didn’t happen in February, but we all know it’s happening sometime this year.
February 2024
Febuary 2024
Upper management will protect their own, meaning only hourly people will get laid off! Upper management will get promoted and moved to another useless position. VPs with no one reporting to them?
Well we made it so far for 2023. Let’s see what kind of a ride is in store for 2024.
@eylk+1pR99GKD Yea, I dont think that we have enough Finance VP's yet ...
Layoffs?? Whatever do you mean? We’re still promoting accounting people every day.
Apparently, I don't, was only there for 20 years but what do I know. Nevertheless, if it hasn't happened by now it won't happen till January. Either way good luck to all in the bubble, I'll just sit back with my loaded eggnog and keep watching this ship sink. Good luck old timer.
@hohoho merry Navidad, that’s a nice sentiment. Obviously you know nothing about the history. They could care less if they do layoffs around Christmas or after the new year. A lot of the old timers have seen it happen over and over and with massive layoffs it normally starts around this time of year. I truly wish everyone lots of luck and good wishes.
I highly doubt the company will lay off people prior to Xmas. They are incompetent and heartless but even that would be uncharacteristic. They will ship them off mid-January. The Chief Elf is probably busy in the north pole right now, but he should be the first to go, then kojak rig. Followed by miscellaneous unproductive losers like hr-dudd, gossip-guard, among many others. Best of luck and Merry Christmas
It only took a decade of losing money to hire consultants. It was obvious to anyone that there were too many fools in Houston and not enough competence across the board. Glad they finally paid someone to tell them what they could have learned by just listening. Maybe the C-Suite will figure out that everyone there and each Executive Leader in each business unit is there to collect a paycheck and ride off into the sunset. They don't care and won't fight for the company.
Word on the ground that Board forced management to hire outside consultants to evaluate company. Findings include the company had become too US-centric and losing focus on international markets. So, it probably means the fat corporate centres in Houston will start letting people go. It’s a real shame what this management team had done to this company in the last 7 years.
I hear that alot of people are going to be cut on this one.
Can anyone let us know what time frame this will happen ?
I have only been with NOV for 2 years. So i dont know the history.
People are already being let go in the Houston area. It seems like they’re making their way down the chain. It’s good there’s a lot of people that have had it too good for too long. A lot of fat and old farts that need to be kicked to the curb. Y’all know who y’all are.
So what is everyone hearing. I am thinking upper management needs to be cut. NOV is so TOP heavy.
All ready in place. Cuts happening across the pond. More in new year.
Merry Claymas
This time they'll have to cut from the upper levels. I'm betting they'll wait till bonuses are issued to provide some cushion to their pals.
To answer your question, look at history. Start keeping your heads low, Christmas is coming.
They seem to have their heads in the sand. Firstly, the entire management needs to go. All the fat cats in Legal, Marketing, HR, IT need to go. Remove entire layers. Be more operationally focussed. The bureaucracy built up over the years of VPs, Directors etc is obscene. You throw a stone from Houston and if it lands in Stavanger, it will hit a VP or Director! NOV needs to get back to basics.
Upper Management: “Hold my beer!!”