I have heard 2 rumors; this reduction is going to be sweeping but also have more strategic aspects to it. For example, one thing I've heard is the movement of a big chunk of product modification (as well as some new design) and manufacture to India - where labor is cheap - and the capability is there (based on the experience of GE, etc). Many bases are to become sales, equipment store, light refurb and deployment only. On the staff reductions, I imagine we've been waiting for another player to make some moves like this first as WFT doesn't want to be the bad guy this time. Why we're worried, I don't know. Our reputation as an employer is ruined anyway.
2 replies (most recent on top)
GE and SLB don't think so.
I am not buying this, manufacturing is too sophisticated for current India capabilities