Weatherford Receives Notice from NYSE regarding Continued Listing Standard https://finance.yahoo.com/news/weatherford-receives-notice-nyse-regarding-000000298.html?soc_src=social-sh&soc_trk=ma
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Topics regarding layoffs at Weatherford International Ltd.
WFT will NOT sell TRS or ALS now. They WILL have to sell one or the other later. This has always been the case (well for the last 4 years anyway). The other PL sales will not retire enough debt. It is a difficult choice. ALS sale kills NAM. TRS sale... read more
Am I right in thinking the share price has been less than a buck for 30 consecutive days? Does that mean the delisting process can (will?) start?
The entire second floor of Golden should be sacked. Meanwhile, they are being promoted. Hope someone from CSL recognizes that they are trash. Labs management is trying to make themselves look good. A sh-- zebra can’t change its stripes though.
Really, people. You quitting on your own right now is like giving a huge present to those on top. They want you to leave on your own. They are hoping to get rid of as many as they can that exact way. No severance, no bad publicity, no liability... read more
Makes sense, 2018 is a complete disaster anyway, take the severance as exceptionals and bonus paid on the transformation objectives.
https://www.macroaxis.com/invest/ratio/WFT--Probability_Of_Bankruptcy PROBABILITY OF BANKRUPTCY ANALYSIS For stocks, Probability Of Bankruptcy is normalized value of Z-Score. For funds and ETFs it is derived from a multi-factor model developed by... read more
Below a buck now for 21 days
it's easy to spot, it's the one car that can't park right at St. James Place what a mo--n
With oil prices dropping once again and our shares following right along, now's the time to exit Weatherford any way you can. The only reason why I'm still here is because I was waiting for severance, but now I realize that's a lost battle. Once... read more
Just wondering if WFT is heading into bankruptcy. lost 80% already and wanted to get out before it goes to 0. Anyone believing in a turning or not seeing BK looming? Why is the stock this low, close to 0?
(See post title).
Estimate the size of the upcoming layoffs? I'd be curious to see what people expect as it relates to layoffs in Q1 and Q2 of 2019. Take a stab... 5%, 10% of the total headcount? What groups? Levels? Positions? Thoughts?
Forty seven cents.!!
Who in their right mind would pay 200 million for the labs when they can get it for a song when WFT goes bankrupt in a few months. That tells you how smart CSL leadership is, you should be worried if you work in the labs.
got to much pride to quit my job. hate slb and their rules and Halliburton doesn't pay sh--! red and black till the casket drops!!!
where to start???? moved the facility from lloydminister to edmonton.... brought two guys with the move. Called up bunch of laid workers from famous 59 day layoff, to put this place together.. promoted hse guy to be manager but later was scapegoat... read more
And then there were two my friends! That day is on the horizon and will be here soon. There is no way to correct the course and destination of this ship.
Our margins are not even enough to cover payroll. The company will be broken up and what can’t be sold will be shut down. Don’t believe all the rubbish that it’s all down to the debt as it’s not. There is allot wrong and it’s not just management... read more
OMG down to $0.50!!!!!
WFT continues to cut up perfectly good and sometimes new tools and equipment for the 'smoke and mirrors effect' of increasing ROI. Woooo to the creditor that might believe they have an interest in inventory to secure their loan. It is often quite... read more
Upper Mgmt showing their superior intelligence has recently performed some remarkable cost reallocation. Even though overall health insurance costs went down for this coming year, WFT will now pay a much smaller portion of the total cost and has... read more
WFT Options: 1) Cut Ops and Sales managers salaries 2) Propose compensation based in “Real” revenue generation (means based on collection) 3) Reduce trips and hotel expense to the minimum 4) Eliminate the Expat status and paid all employees in local... read more
I remember in 2012 when they woke up to the fact that burning through cash and just issuing more debt wasn’t going to work much longer. Unfortunately, it was too late at that point as they didnt act fast enough, didn’t do enough, and then the crash... read more
We hired way too many Slb rejects in management. They were laid off by Slb and what have they accomplished for WFT? In 12 days the delisting and bankruptcy process begins. This was all avoidable.
These executive management teams are either delusional or they are outright lying. Management positions are reserved for freinds and family and not having field experience is preferred. These guys are hilarious.
The completion of the deal was announced on Monday. Even though this sale was announced earlier and is a part of a package of assets and operations that Weatherford planned to sell for some time, it always repulses me to see news like this. This... read more
I thought people crying bankruptcy were being alarmists and overly dramatic, but somehow that has in the last few months turned not only into an actual possibility but a most likely one. I'm now wondering if there is literally ANYTHING that can be... read more
Taken from an email note from Spears; …"$700M for a company with sales of $6 billion? Why so cheap? Debt, combined with lack of growth. Like we tell everybody, Weatherford was a good company with good people doing good work, but this good work is... read more
I doesn’t take much to realize that half of the managers don’t get much done. Any time of the week stop by one of the offices..... Cutten Rd. Ghost town. Incompetent managers that have been demoted ( not with a pay cut ) are well known in that... read more
Hard as this sounds this is our best way forward. We're paying an extremely high interest rate on our loans. Going chapter 11 will give Mark and Christoph time to restructure debt and reorganise product-lines. Head count reduction is in the process... read more
Focus solely on safety and promote people based on gender and your company can end up in the terlet right next to Weatherturd.
You can still get ahead....trade your WFT shares for US Postal 50 cents "FOREVER" stamps before January 1st 2019.....actually before they drop below 50 cents and or get de-listed... On January 1st 2019 the USPS will raise the price of FOREVER stamps... read more
Clients already questioning whether we can fulfil contractual obligations and new awards at risk due to uncertainties
Weatherford needs more managers. Thats the issue. There is a lack of management . We need more guys in golf shirts. The field hands make all the decisions and get paid all the money. It has to stop. We need more guys who could not cut it in the... read more
0.59c continuing the freefall