I agree, it seems we are adding more layers of management when field locations do without. The transformation has caused alot of useless non-revenue generating jobs. Give the field folks the needed resources and market value pay and we could turn this around quicker.
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Haha, no one is buying Weatherford! WFT is a wrecked car and it’s being sold off as parts. At some point you would think selling off these assets would result in thinning out middle and senior management. Cut out 100 manager and support positions plus a director or VP or two. That would save about $15.5 million a year (100 x $150k + $250k + $400k). That’s just wages. Let’s add on office lease costs, IT, cell phones..... or bonuses!
The shops and manufacturing plants are being told to do more with less and they need to figure it out. Same should go for Houston and some of the country head offices.
Any buyers?
Trs and als is all wft will have left. I almost willing to bet slb will buy wft at that point in the next downturn. They will buy it for the technology regarding trs and the vero stuff that just came out and bc slb has such a hard on for a successful als company!! Slb has bought 2 als pump jack companys and still cant be successful. Wft to this day is king of als.. kings of the pump jack!! Forever wft till im laidoff!!!
We bring in alot of revenue here in north dakota with wellhead and rentals!! Cant speak about other districts but north dakota is the most profitable. Any info on the buyers though???
Fishing and rental does make money. Well head is a complete loss. Paying people there is no value at all in it. They have got to sell something of value.
it’s rentals and well head. i spoke with senior management about this and it is the easiest way to stop losing money
I'm hearing liner hangers.
AL and TRS are the jewels in the crown as far as global earnings go.
They cant afford to sell either, but if they do its a sure sign that Weatherford is finished as one of the major players.
It will only be small stuff at this point. WLS, SLS, FRE or some Completions sub PL.
Big stuff later.
china pump jacks had holes in metal had to be welded in ,but half price
that's bs rental and wellhead make money!!!!!
Good quality in China... is it a joke ?
What about Aberdeen manufacturing, India, Louisiana ...?
rental and well head because they do not make any money. equipment is old and sales people don’t do anything
Heard a rumor that all UK manufacturing will close or be moved
Aberdeen manufacturing being shut down next year?
Why rentals and wellhead??
SLS
heard thru grapevine... announcement was made today at one of the merting at strathcona facility in edmonton that... they are opening up a pcp facility exactly like strathcona facility in china.... they bought pizza for everyone today at the meeting.... expect in near future for this facility to shut dow as soon china is operational....
Rentals and Wellhead.