Thread regarding National Oilwell Varco Inc. layoffs

Lowest today $20.14 got back up to $20.58 ... it will be sub $19 by mid next week, action needs to be taken now.

I for one will say this in the aspect of lower level employees, we see all that transpires from one order to the next. When there is product that is supposedly hot but sits for months on end, and Nov does not charge storage fee’s what so ever to have the product moved out.

The lack of better management to be able to maintain an accurate account of inventory, is by far a joke and I quote “ oh we don’t have the parts for this job, but that job does so take it from there , and I will fix it later on when I have time”. End quite that is remarkable.

Change needs to happen to make a better out come but change must start at the top not the bottom.

There is a reason why Varco was acquired by National Oilwell. Now those same people are running this company through the sh--ter and we just sit here waiting to get flushed. The bad thing is there is no Pete to save them this time. So hang tight as Nappy, Pedro and Rico do their amazing act.

Post @ZkvRyfy-3gvo is an excellent example of what is wrong with NOV senior management look at Weir group, GE etc they all offer a wide range of product for oil and gas, power and general industrial customers.

YOU obviously have no business acumen let alone any understanding of how great companies are built. Pete Miller and his old guard built a brilliant company, the current incumbents deserve no credit as they were riding on coat tails.

As for earning $16/hr to stand in front of a semi automated machine and push a button, I don’t know where you work but we haven’t been paying less than $26/hr for a machinists for several years. As for my qualifications I have a couple of degrees and do not perform manual labor. I like my job, the team I work with, my VP and the product but I thing the company needs a dynamic, entrepreneurial senior team, the oil industry has changed ... for a long time if not forever.

Before commenting on this post, engage brain, find a buddy with more brain cells than you and discuss objectively.

Sounds like a VP has his panties in a wad. Go back and slurp you boss till he’s done, like a good boy.

What exactly are you expecting from an oil field equipment company in an oil industry downturn? They're not an Exxon or Chevron who benefit with both high and low oil prices? How exactly do you expect them to manage their way out of this? They did awesome when people were buying giant offshore rig packages. Until that time, you can continue to expect marginal returns.

You have virtually no understanding of how economies work. This just shows why the VPs get paid the big bucks and you get paid $16/hr to stand in front of an automated machine and push a button.

I disagree, we need to make everyone a VP. Why have production workers, the more management the more money the company makes.

We need more highly paid VPs and directors, degree qualified and incompetent preferably, to keep the labor in line. I propose a ratio of 1 Director to 1 manager to 1 producing employee, who should be paid 1/4th of the Director (excluding car allowance, share options and 30% bonus).

It's Game Over for NOV! Too late to shift to Renewable Energy. The business heads missed the opportunity, as the political spectrum catches up with reality #ClimateChange #GlobalWarming.

NOV thinking, get rid of workers so we can keep supervisors & office people. We all know paperwork & more forms is how you make profit. Products are not needed!

Attention board of directors:

Do you think laying off the lower level workers who are producing the products & services that bring in revenue will turn things around?

I doubt it, only a momentary adjustment to bottom line to appease us share holders.

Productivity will decline further and the same poor decisions made by mid-level & upper management will continue to sink us. Look what happened to Weatherford.

To make real change, change needs to start at the top.

Is that yellow snow ?

Well said