Thread regarding National Oilwell Varco Inc. layoffs

"Frank is not the leader we need at PCG. How will everyone feel when the next layoffs occur, because everyone wa s basically told they won't be layed off"

I think you heard what you wanted to hear. He never said that. Let's think logically. NOV must reduce its work force to the industry needs/demand. NOV is not in business to employ folks. Put yourself in NOV's position. Are you going to continue to employ over 1200 people when your work load reflects 2006 levels? I think not.

If we see some rework coming through the door in the near future I think some jobs will be saved. Until then I would expect to see our work force cut by more than 50% across the board by the of June or July. This is pure speculation though.

By the way, I've seen Frank in several uncompromising situations in which he finessed his way out by avoiding the truth at hand. Don't be mislead. Only you will take care of you and your family.

Did anyone ask Frank if he's ever experienced anything this volatile in the oil industry? Or whether or not his direct reports actually made well thought out decisions? Also, which of his direct reports were directly affected by cuts? (ahem, none.)

Anyway, they won't realize how deep of a cut they made until they start hurting themselves into debt or further debt, if you will.

Hop off the sinking boat while you can. That's the only recommendation one can provide. It's only going to get uglier. Layoffs every quarter. Best of luck.

The folks in the meeting I attended asked several questions. I personally appreciated the attempt to settle everyone's nerves. What I heard was an honest account. They hope this is the only layoffs for the year, but nobody can predict the future. I disagree with your opinion on Frank. You should have seen things before he got here. You might understand how much he helped PCG.

Skilled people are really hard to find that's why idiots are promoted to management