The oilfield services industry has been under pressure for the past several years. The sector still hasn't recovered from the crash in crude prices that began in late 2014. While market conditions had started improving in the past year, they took a turn for the worse toward the end of 2018 when crude crashed again. This renewed slump in oil prices led many oil companies to reduce capital spending for 2019, which will negatively affect oilfield service companies.
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Aberdeen went down the toilet because of incompetent old school
It's not just the Aberdeen office that is performing poorly. The North American US Land has problems too.
The ole boys have run aberdeen office into the ground. Kick them out.
Amen and thank you!!
It will require GE to have a heavy focus on BDM and Sales. BHGE legacy employees have become lazy and over confident that GE will not move out some of the BDM and Sales staff. Just look at the numbers. If BHGE expects change and to challenge SLB, its time for the good ole boys to be re-educated or moved out.
Layoffs are a terribly things for people, families and companies.