If you ever built a home or a building then you know a good foundation is critical. All the weight is supported by the foundation. Small hairline fractures can easily be dealt with, without causing damage. When larger cracks occur, measures have to be taken to protect the integrity of the foundation. If ignored, over a period of time the foundation will fail and everything will come crashing down.
WFT is scrambling like never before. The building is shaking, the foundation is failing because of neglect, due to real leadership. As the larger cracks occur, they simply pulled brick (employees) out of the wall laying them off, thinking if they lighten the load, the foundation will be ok.
What you are seeing is the corner stones (employees) being let go. Once you remove to many corner stones, the building is coming down, there is no stopping it.
Other companies could learn a lot by watching the failure of Weatherford. Keep your foundation sound. Make sure your foundation is in compliance. The hundred's of millions of dollars spent due to noncompliance could have a lot of jobs. Getting rid of the person in charge of protecting the foundation, should have been done a long time ago.