Why are people so pissed that they get let go? Its a business people. Yes it will be a scramble during the uptick but do you really think a company can keep paying people with no revenue being generated. Get real. If you were the owner of company would you pay your employees to sit around and do nothing while the company is loosing money and HOPE revenue starts coming?
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We see people planning on large profits at the expense of others. Back stabbing, clawing to the top over others, dumping U.S. employees in favor of offshore. Right, we should just say it's business, treat us like the pieces of shit you see us as. Be sure and smile for the final photo.
The problem isn't so much that people are being laid off, but rather how they're being treated.
It's true that the market is down and there is less work, but BHI is suffering as much as it is due to poor management and planning on the part of upper management when times were good. There are people at the bottom (technicians, engineers, etc.) who are extremely high performers who are being laid off while inept managers and executives are being retained. Craighead will walk away with millions of dollars for leading BHI into the mess it's in now while competent and hardworking employees are shown the door. Had Craighead and the executive team performed their jobs adequately, there would likely still be layoffs, but not the slash and burn we're seeing now.
Take a look at well managed companies in this industry and you'll see an example of how BHI could have weathered this downturn with competent leadership. GE O&G and Dril-Quip, for example, are both service companies that have so far weathered the current storm extremely well.
Bite me
Lol