It's going to be very bloody, 5,000 is a huge number, it's a bit less than what some predicted, but we'll see what happens over next weeks - good luck to all of us, we will need it - Here is the source: http://www.prnewswire.com/news-releases/weatherford-reports-fourth-quarter-and-2014-annual-results-300031304.html
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And with the additional 3000 just announced in the earnings call, there comes part 2 of that rumor...
Before I was let go, I heard a rumor of a three-wave layoff. Initially 10%, another 5% in Q2, and if the environment did not change by summer, another 10%. Looks like the first part of that prediction has already come true.
The first wave of this is not the most drastic. The second will be the strongest as this will in turn reflect going into second half of year. There will be mgmt changes and there will be more people in the layoff In the next weeks and months. There is no sorrow in cold facts.. Facts are that we are struggling from different angles so cuts come to get back to our core then we rebuild. But some of the core will be in turn over as well.
It'll be more than 5,000, mark my words, they are lying again. They will have even bigger bonuses, greed knows no boundaries