Thread regarding Weatherford International Ltd. layoffs

"We rate WEATHERFORD INTL PLC (WFT) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share

Folks, I fear you just don't get it. Weatherford is not doing anything different then BHI or Hal. It's business..nothing personal. A bust is upon us and no one is sacred..not even management. It just hasn't got to them yet but first pay cuts then eventually layoffs. Right now management is needed to help "manage" the layoffs. If you lived through the 1980's bust, this is just a repeat. All these companies compensated their employees with a paycheck. If you worked holidays and children's birthdays and wife's anniversaries, well..that's the oilfield. As my husband says when he is gone every Chistmas, "every day is Christmas in the patch". This isn't our first rodeo..but it feels much like all the other rodeos we have been a party to.

Too many worthless managers! Why keep them if they don't work? That's where fat needs to be trimmed!

In my opinion the employees that worked the hardest were the ones least compensated. The managers are the ones that work the least and take advantage of all the perks and spending and they let the hardworking employees go and kept the worthless managers.

I agree with the rant and speaking from an employee is still employed with more than 12 years I would have like an early retirement package. WHY NOT OPEN IT UP TO EMPLOYEES WITH 10 OR MORE YEAR REGARDLESS OF AGE. Because from what I am seeing all the same managers that drove us down are still here.

You almost hit the nail squarely on the head. The average investment in an employee as of 2008 was $60K plus. They let so many good employees with years of experience go due to their age and the salary they were making. If you kissed a managers back side or had a best friend in upper management, then you still have your job, not to forget that many who still have a job don't know what they are doing.

Bernard and the board of directors have to go, in order for this company to survive. Hope someone buys us out before the bankruptcy hits.

Well put my friend! Just google Weatherford going bankrupt. NYSE has us at 58% in 24 months of being out of business.

I really think there's more than just the price of oil at stake here.... You can't pay folks if you have no money due to legal issues..... See for yourself! http://www.justice.gov/opa/pr/three-subsidiaries-weatherford-international-limited-agree-plead-guilty-fcpa-and-export ----- http://securities.stanford.edu/filings-documents/1046/WFT00_01/2011826_r01c_11CV01646.pdf ------ http://www.treasury.gov/press-center/press-releases/Pages/jl2223.aspx

To add to my original rant - the very people you're mistreating are the same people that have given you blood, sweat, & tears. Many of whom have lost their spouses along the way. You've forgotten that its these people who've done the work that you've take for granted. Ever stop to think that the employee who filed the lawsuit may actually have grounds???

You can't take, take, take and expect people to allow it. And where's the dignity?? You storm in to locations and corral folks like their cattle or trash to be hauled out. With no warning??? Sure we all knew that because of Weatherford's poor management skills and money mismanagement (along with some of the various legal woes), as well as shady business practices & tactics - that it was a ticking time-bomb. From what began as a family owned business to now a corporate conglomerate that can't even smell it's own shit when it is beyond pungent, you should be ready and willing to accept the massive blow you're about to receive from the current and former employees you've shown complete and utter disregard for. Let's not for one minute forget - those who made Weatherford what it is..... We ALL will bounce back!!!!!

I'm in management and I endorse this post!