Thread regarding Weatherford International Ltd. layoffs

I heard today that an urgent and complete reassessment of office rentals throughout Houston is underway.

They are looking to either renegotiate terms with landlords, or do aggressive consolidation with layoff clauses they had negotiated with the landlords when they made their contract.

In other words, if they layoff a certain percentage of employees in the building and can provide proof, then they can walk away from the lease.

So those buildings that have such clauses are at risk of a higher percentage of layoffs. Remaining employees are then transferred to work at other buildings without the clause.

Be weary of transfers.... should these locations close, chances are they have already done recent layoffs at the location they want to transfer you to. A form of consolidation to make room, a micro headcount which will buy time before you get the final layoff in the end. Don't worry, your manager will have already been downgraded to another position by the time you get pissed off. Nothing you can do, all asses are completely covered with leftover lubricant! Just find another job...

Any in the uk?

What building is in Kingwood? Not Shenandoah right?

First named closure is Kingwood. Any comments?