NOV _ CT/N2 division in Calgary experienced cuts, skeleton crew, shut down 3 of their plants, the enerflo division complete nightmare, they are building spec. units to keep people busy, not sure how long this will last. - Good Luck to All.
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We were slower to move, the big guys moved quickly and caught the spot light. Our management has been more secretive, look at what BHI and HAL did (and SLB to some extent) when it comes to announcements (all had big PR releases) - not sure why they are behaving this way. Our cuts were smaller from the overall headcount perspective as we are smaller, percentage-wise it's a different story. I am as puzzled as you are, just gave you some hint, I might be off though.
The management don't want NOV to front bad publicity to the stockmarket!
They are hiding the fact that several thousands of employees are about to be laid off all over the world.
NOV is plunging deeper and deeper due to a lack of orders!
I'm in Alberta Canada and have not seen any layoffs here yet.