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re: I heard layoffs happened at Schlumberger today
Posted on 1/14/15 at 10:11 am to tgrbaitn08
Posted on 1/14/15 at 10:11 am to tgrbaitn08
So the US is +101 in rigs, and everyone gets laid off? 
Sounds to me more upper tier people (that I'm sure have more than enough money) are getting the axe right now.
Oil companies and Saudis are too greedy to keep the price this low. I will never believe that it will stay where it's at now and more people will be hired in soon.
Sucks losing your job (I was out a month and a half last year), but at all times, in this business, you MUST KNOW that at some point, you're at risk of being laid off.
Sounds to me more upper tier people (that I'm sure have more than enough money) are getting the axe right now.
Oil companies and Saudis are too greedy to keep the price this low. I will never believe that it will stay where it's at now and more people will be hired in soon.
Sucks losing your job (I was out a month and a half last year), but at all times, in this business, you MUST KNOW that at some point, you're at risk of being laid off.
This post was edited on 1/14/15 at 10:12 am
3
Posted on 1/14/15 at 10:16 am to Prominentwon
quote:
So the US is +101 in rigs, and everyone gets laid off?
excatly...people are overreacting.
quote:
Sounds to me more upper tier people (that I'm sure have more than enough money) are getting the axe right now.
that and middle management. Service companies are being asked to cut rates in order to keep people working and keep jobs going.....the problem with that is overhead cost are still high. They are trying to figure out how to cut cost and stay in the game at the same time they're trying to cut over head.(trimming the fat)
Posted on 1/14/15 at 10:26 am to Prominentwon
quote:
Sounds to me more upper tier people (that I'm sure have more than enough money) are getting the axe right now.
quote:
Industry executives say companies are reluctant to let highly skilled workers go, especially when oil prices are likely to rebound in the next couple of years as global energy demand rises. But rig and fracking crews will inevitably be let go first, they said, since those workers can easily be rehired or replaced when drilling rebounds.
Posted on 1/14/15 at 10:32 am to Prominentwon
quote:
Saudis are too greedy to keep the price this low.
They are doing exactly what they planned on doing as far as production levels. They did the world a favor yrs ago when this happened last and ended up losing market share.
They are doing what any savvy business person in their position would do. I would, you would, and the overwhelming majority of everyone here would do the same thing if you are honest with yourself.
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