Thread regarding Weatherford International Ltd. layoffs

Turns out that Mandingo was a scammer and weatherford ended up with a home in Houston that was in negative equity. Typical weatherford business deal

Mandingo wants his money back

Hi,

If it means I get to keep my job please count me in. I have a family to keep for many years to come and will be happy to pride for them via this equity scheme

The question I have though is when do we get paid back for the equity we loan? Or is it just the shares we get?

Bernard - you are a real scammer and are you a relation of Bernie Madoff?

How could you possible hold the post of CEO in such a big company with such a low level of personal integrity?

Hi Folks,

Just wanted to wish all my employees a great New Year and let you know we had our first sign up to our home equity lending scheme yesterday from Mandingo Bokuto based in our Nigeria office but who owns a home in Houston. Thank you Mandingo my friend for your faith in our company.

Now lets get back to work - our clients don't stop for the holidays and neither should we. I checking emails daily from my vacation home in the Bahamas.

Bernard

I wish this was a legit post, to see whats idiots would actually do it.

Bernard is currently on vacation in the Bahamas relaxing. He knows he has done a shit job over may years but he also knows underperformance is tolerated in the company and nobody has the balls to get rid of him so he is still there taking the taking the money and thinking up crazy ideas like taking employees home equity. Totally asshole

Team, c,mon help a bother out, why all the negativity, it's the holidays let's be merry, ranch almost done life is good, looking forward to another 17 years.

Bernard

Bernard,

I just paid top dollar for a ew home in Houston when the company asked me to move for a new position but then I got laid off and my house is now worth 30k less than what I paid for it and the mortgage company is threatening me with foreclosure unless I pay them the money so i don't have any equity to lend you. Could you led me the money and I will pay you back with company shares?

Team - its just a suggestion and as I said as soon as my extension at the ranch get finished I will consider donating a small part of my bonus but now the time is not right.

Now lets get back to work.

Bernard has had huge multi millions bonuses over many years and he needs to put his money up first before we the employees do anything. There is absolutely no way I will use equity in my home to help this scoundrel get out of hole that he has dug himself.

How dare he even suggest such a mad scheme and shows you the complete lack of integrity to even us ask us such a question. This is going beyond scraping the bottom of a disgusting barrel.

Corporate is rolling out a company theme song.

Developed last year, the music consulting company has received final approval from executive team and Board of Directors have also signed off.

It is going to be a huge morale booster, and ROI is expected to be a quick return.

If the web site Seeking Alpha and other Wall Street analyst are right, WFT will file for chapter 11 Bankruptcy in 2016. The debt to income ratio cannot be met and Chase wants their money. You the employees of WFT will take the last hit, when you don't receive a paycheck on time.

Tell Mr. Bernard to lead by example. Let him put up a significant amount of his own money to try and save the company, before asking for yours. He created the problems, tell him to fix them!

the operative word being "scheme" meaning scam ... part for the course if in fact this really is a management idea and not an employee running their mouth spouting the most bonified line of bullshit. If you believe this and want to go for it you have proved just how stupid you really are.

Fellow employees - we need you to be faithful and lend us your money so we can continue to thrive and excel as a company. We could possibly look at giving your more shares but I can't promise anything.

I have given everything for this company in the past and will continue to do so as your leader.

It's not my fault that Schlumberger and Halliburton are bigger and stronger than us but we do pay a bigger bonus and we don't change the CEO out as much as they do thankfully so we have more stability for you the employees.

Now let's get back to work and delivering for our clients.

Bernard

This is easy! If the board of directors are not smart enough to replace a 17.5 year CEO (long overdue for change) who has put this company 7,185,000,000 (yes that's billions in debt), then then the board of directors should be replaced or FIRED, not laid off!

EXERPTS FROM WALL STREET JOURNAL ARTICLES AND OTHER FINANCIAL NEWS SOURCES

As Chairman of the Board, President and Chief Executive Officer at WEATHERFORD INTL PLC, Bernard J. Duroc-Danner made $14,927,012 in total compensation. Of this total $1,920,708 was received as a salary, $2,911,012 was received as a bonus, $0 was received in stock options, $8,263,857 was awarded as stock and $1,831,435 came from other types of compensation. This information is according to proxy statements filed for the 2014 fiscal year.

Bernard J. Duroc-Danner holds a Ph.D. in economics from Wharton (University of Pennsylvania).

"Really this guy has a Ph.D. in economics! Either this doesn't say much for Wharton, is it even an accredited school? Or like most Ph.D's he also is too educated and has no experience in the real world! Get rid of him before he sinks the entire ship. Even rats know when to get off of a sinking ship!"

There also is a drive to reduce costs by shedding layers of management within the company. "also include executives and board of directors"

Mr. Duroc-Danner said his company can’t compete head-on with the industry’s two largest players, U.S.-listed Halliburton Co. and Schlumberger Ltd.

10 shares for $1000???? Stock is $8 a share so if i wanted i could buy more cheaper. But overpaying for less is what has this company in a bind. Also now we can't invest 401k in stocks, so that makes me think stick is useless.

More than 16yrs with this company can't get more than 5% raise and that's gone,you offer me severance pkg with no compete clause & now you want me to loan you money how about 5ooo shares for every 1000$ and Bernard sign a no termination clause for me

Here's an idea we need to bring people from field jobs to be placed in management instead of some sales guy or dispatcher or location supervisor that has never been in field where the true money makers are that know what goes on to get the work and be able to do every job that they managing in their department I believe if you have not done it then you don't deserve to manage a product line every one needs to go to field before you get to be a manager or dispatcher/shop tech/location supervisor/etc.

This company has never been so solvent in years Hell if this downturn hadn't came along and forced WFT to start making long overdue cuts we would be bankrupt by now. The less money WFT management have to play with the better this is what they get paid the big bucks for getting us out of a hole. Start earning your salary CEO and VPs

I understand your feelings and we looked at this however we just started building and extension to our ranch and the board of Directors agreed we can't stop that now it's started and needs to be paid in full. We agreed to look at management bonus payments next year.

Now let's get back to work

And what about your bonus you corrupt decadent piece of dog meat?