In Aberdeen, it is clear something bad is brewing. Every time there are redundancies, managers are called into short-notice meetings with HR & there are lots of comings and goings from closed offices in the HR dept in Altens. They've got that 'we're on a mission' look about them again.
What I have heard from my manager is another round of redundancies was scheduled anyway but have been brought forward both to A) hide Weatherford's bad news (for once) amongst that of the wider industry B) limit costs earlier as the drop-off in activity is starting to screw up cash flow again.
Rumour is: rather than drip the redundancies through as before, it's going to be a proper axe swing this time.
This is what we see in Aberdeen. The north sea is a very high cost producer but, based on Weatherford experience, I doubt the rest of the company will be too far behind.