As a project engineer, I was laid off yesterday afternoon (5/1/13) because of the downsizing the company. The compensation is only two weeks pay. The big boat is really sinking.

As a project engineer, I was laid off yesterday afternoon (5/1/13) because of the downsizing the company. The compensation is only two weeks pay. The big boat is really sinking.

As a project engineer, I was laid off yesterday afternoon (5/1/13) because of the downsizing the company. The compensation is only two weeks pay. The big boat is really sinking.

I agree. Weatherford is acting as though its about to sell itself.

Wonder if the debt level near their equity (D/E of 80%), which is above industry standard has anything to do with current situation. You can only spend, spend, acquire, acquire, for so long. Its not easy to be in upper management in a company, but it... — read more 

Why do you say that? I've heard about the layoffs Weatherford always has. But it appears they are prepping itself for a major acquisition. It's not like it would take much to do so.

You obviously haven't been at the company for long..

Do you think the company is about to be sold?

Workforce will see 5% reduction in USA by 30 April. Further 5% by end July based on personal performance and salary. If company doesnt see turn around then contines with 5% in Q3 and then another 5% in Q4. Same outside US but total is 10% for 2013... — read more 

We have been advised to reduce workforce 5% mostly US Business Units. Layoffs will continue into May. This is to help make payroll and to make cash available to pay outstanding bills. We have been very slow paying our vendors over the past 3 years... — read more 

What r u basing ur info on?

There have been a few layoffs lately in the back office staff. No body in management is telling the staff what the layoffs are for. Plus there have been numerous delays in many of the projects slated for 2013. Something is going on with their... — read more 

We had 3 folks leave our group last week

Multiple back office hits today (Monday 1/28/2013) - more layoffs to come thru March

Weatherford is pretty cool company to work for - I have no complaints even thought I'd love to be paid more, but overall I simply cannot complain. I am not aware of any layoffs that took place in the past, and I am certainly sure we will not have any... — read more