If the economy turns around, do you anticipate any Weatherford Layoffs in 2019?
13 replies (most recent on top)
If you want to gamble on it you can. And many will. You have to decide for yourself but keep in mind you are expendable and the company owe you nuffin
Next to come personal vehicle allowance just like Baker and Haliburton.
Weatherford has done it. Laid off a good portion of their field hands and offered them to move to “contract” or casual worker. Not only taking a -30% in hourly rate. But removing the guaranteed hours. And the insurance is even more expensive for a worse quality coverage. (You will get better coverage on a prison ship!) I ran the numbers and to make the same amount that I made this year with 250 days on the rig this year I will have to work 324 days on the rig just to make the same amount. So instead of a 20-10 rotation, I would have to work 27 on and 4 off. For $150,000 a year. A 20-10 you can make $115,000 a year gross, but you will be expected to do more for less. And since they cannot even guaranteed that. You are expected to pay for your own travel, but they want you to put a app on your phone to keep track of where you are. Oh yeah and them releasing your work and salary history to a company based in Central America that in 2017 was responsible for a breech in data that effected 70 million Americans without your permission is downright borderline illegal. Not only they laid off a week before Christmas they placed your personal data at risk. I have made the decision to walk away.
Always amazing they have these college degreed people as CEO,'s and CFO'S but the big companies continue to bore a hole in the ground with a spectacular crash. Must have blinders on as they seem to NOT see anything coming. So, they lay off the workers. I believe I would can the management instead.
Post Chaper 11 filing to remove debts. September 2019 company wide conducted a Reduction in a Force (RIF) to slim up company waste. Closing Oklahoma and Louisiana facilities. October 2019 the US Geozone restructuring slimmed up management. Happy Halloween, the Chief Financial Officer (CFO) is let go. November 2019 revenue numbers below profits. Sales contracts effects product lines. Service and vender contracts cancelled. Results effective November 19, 2019 US Geo-Wireline is dissolved. Facilities to be auctioned off, tools rented out to third party competitors, and equipment shipped overseas. Non essential personnel let go with severance. Engineers offered overseas relocation pending offer letters (since October). Employees on a L1 visa must find a sponsor or go home (will not renew). Super centers US Geo-wide only seeking to employ local only, getting away from employee camps and hotels. HR Director to HR managers to senior HR specialist are hesitant of out of state applications. Posted opportunities don’t reflect actual openings. Management is very concerned of image, requests all employees not to disparage the company following the layoffs. Stressed social media and news agencies not be informed, including all employees completing CBT’s prior to layoffs.
They laying off folks all this week in various divisions.
Worked there for 10+ years in ALS. So much mismanagement, and it continues today. I have friends that are still there and hear the stories. They had so much potential, and greed prevailed......
What goes around Weatherford, comes back around...….
The economy turned around a long time ago. WFT just turned over and is on life support. Ever see a turtle on its back ?
Growth of the new Weatherford. You trim the old guard that have had, in Weatherford's view, pay increased too much. You then hire fresh new hands that do not command as much -- so you may not have the experience level you need, but they teach most of what you do in books, right?
Well of course you could. In fact HR Eastern Hemisphere are on LinkedIN saying they are in growth mode. 🤣
S..t, and here i was about to ask for a pay rise.
Last one i got was seven years ago.
Maybe next year!
Seriously! With yet another Moody downgrade yesterday stating the debt is untenable without drastic cost reduction.