Thread regarding Schlumberger Ltd. layoffs

No layoffs reported in Q1 results - does it mean there were not layoffs in Q1?

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2000 jobs were cut in 1Q-2016

Between 1-Oct-2014 to 31-Mar-2016, Schlumberger has fired 36000 employees - approximately 29% of workforce.

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These Service companies have slaughtered so many jobs. When this comes back in 2018 (my guess) they are going to have some tuff times trying to ramp up. To all the ones that got chopped, we all need to eat so if you go back make damn sure they pay you better than when they shxt canned you. Because one thing is for sure, another 3-5 years it will bust again and you'll get laid off again. Might as well get paid better than before.

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I'm hearing another round coming down thru the Drill Bits/Tools groups soon. They have been quietly slicing and dicing. Mgmt is trying to push it out on the dist. but their pushing back due to Houston still fat and full of so & so's staring at Yahoo. in their cubical with nothing to do because of solid protection. Revenue is really going to take a dump in Q2. With what I was seeing, no recovery is expected rest of 2016 period. Another year of slow dwindle is the perspective. They caught up to me. If your white male, G10-G12 pay scale, 4-10 years service in, single to some degree - get your office packed up buddy their coming for you. These big companies like 20 somethings so they can pay them shxt and move them every 6 months around the world. Good luck all....

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In a way it's good because that is a group without technical skills holding onto their chairs at the cost of hardworking employees. Unbelievable that survival is possible by clown acts.

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If you are 45+, male, US citizen, with 20+ years experience and 10 to 20+ Years with the Blue you are probably on the radar. Experience, seniority and loyalty are not playing in your favor as it translates to higher pay and often less flexibility in the job. Add to this Executive KPIs linked to - High - payouts to control costs and place 25%+ women in management jobs while at the same time reduce the number of management layers - less middle managers - and you will get the picture.

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if you a bit older, say 45 and above, or you worked harder all your tenure, or you have a higher grade, etc. you become easy target as your salary is higher. Whites are not special this time (sorry) you all got screwed well by PK, his stock options are more important.

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Uselessness starts over 45 not 55

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I was laid-off in Q1, and I was making $$. If you are over 55, have >85, you are in SIS/TIG/Wireline/NAM, not in Houston, and a white male.....start packing up. Only a limited number of 'miracles' left. Prince didn't make it, neither will you.

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Cardinal Health (Houston/Enclave Pkwy office) will be opening up a new IT position. Go to / Search for the job requisition number 20006369. It was approved today and will be posted very soon.

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2000 in Q1 2016

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I see about 4000 from end of december until now. They usually are said in the conference call tomorrow morning. If you go off the $260 million figure it is probably closer to 6000-8000 depending on what people got.

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Maybe no mass layoffs, but there were certainly people terminated as the work continued to dwindle.

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"What was the free cash flow for the first quarter of 2016?

Free cash flow, was -$103 million for the first quarter of 2016 and included approximately $260 million of severance payments"

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IBT of North America was -$10 MM. Go figure.

My office is all packed up.

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