They started first thing this morning, laying off office staff first. The people who have been let go off so far today are a big hit, nobody else knows how to do what they did.
I was told they are using a formula: age + years of service = 65 or more and your a prime candidate for a layoff.
Crazy times for sure, but if there is no work to do then layoffs are inevitable. We are (were) here for the shareholders.
Field hands were let go asa well at drilling services.
Lots of them with quite a few years experience.
Some of them were kept with no salary, no vacation and no company truck and getting paid only field bonus.
They only keeping the Boss's favorite , credit stealing and lazy .
Good lots of lazy asses still getting paid and Red Deer too. Especially so called drunken managers.
About time they clean house. Lots of dead weight still.
Getting booted from their jobs , age discrimination .
Reward you say, Congratulations your Fired
I sure as hell hope it is ampscot. That place is bleed weatherford dry.
Thats a nice company line but I call bullshit. Weatherford doesn't do anything for people getting laid off that isn't in WEATHERFORD's best interest.
That formula (Equals 65) is being used to give them the option to take this separation package which is a much more lucrative package. It is a choice. It is to reward folks that have been at WFT for a long time or are near retirement age. If they get that option they can take it OR wait and see if they lose their position eventually. If they are laid off later then that package is no longer available to them.
Is drilling services getting hit?
That's a clever formula, lets get rid of everyone who knows what the business is about, is that getting the company in line for the great upturn that BDD sees. Typical Weatherford way of thinking, ( lets not think) ??
what facility???
(Nisku is the heart of the Canadian patch, with Calgary being the brain)