Colleagues,
As you may have seen in Andrew Way’s employee note yesterday, we are restructuring and resizing the Surface business globally to align with a challenging market environment. With the drop in oil prices, our customers are facing cash flows constraints and are drastically reducing capital and operational spend in WPS products and services. As a result, we have had to make some tough decisions to continue being a competitive business.
Decisions like this are never easy. These are hard times for everyone, especially for our colleagues and friends who will be impacted by this reduction in force. While GE has resources available, please give them the necessary support through this transition.
If you have additional questions or concerns, please reach out to your manager and HR leader. I will also be hosting, together with other WPS leaders, a global webchat on February 16.
The one thing we know is that the down-cycle will eventually end. We need to stay close to our customers, continue to deliver safe and high-quality services at a moment when they are also under pressure, and help them to find ways to optimize their operations. At the end, their success will be our success, and they will value partners helping them with innovative solutions. With your help, we can gain share by:
· Growing services that help our customers to get more from their existing assets
· Launching new leasing solutions, as well as Field Vantage production optimization services
· Continuing to invest in the more resilient areas of the world
· Accelerating our product cost out to increase our competitiveness
Again, thank you for your focus and efforts during this time. Together, I believe that we are going to go through this cycle and come out stronger.
Best regards,
Jerome Luciat-Labry