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I have seen similar things at Schlumberger. I remember one time vividly, because I was a supervisor that had to tell several employees they were no longer needed. This was in the well service engineering, manufacturing, and laboratory in Tulsa, Oklahoma. The
combined groups had just over a 1000 employees in Tulsa. After this was done we ended up under 200 employees in Tulsa. (Tractor reference - I bid on a Farmal Cub with mower in an employee auction, and came in second place. Shop supervisor got it for $17 more
than I bid.)<br>
In 1993/1994 we had another issue where management decided to outsource most assembly/manufacturing, and move out of Tulsa.
<div>There were a few more downsizing times. With the well service manufacturing now outsourced, the layoffs were not first hand, but someone else dealt with it. Still several jobs were lost.</div>
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<div>For the mathematicians out there, if you take the supply of oil and gas a a primary function, the oilfield equipment manufacturing is a 3rd or 4th derivative of this primary function. That is why the changes are so abrupt. </div>
<div>I guess that engine suppliers are in a similar position if you look at trucking mileage as a primary function.</div>
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<div>Dennis<br>
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<div dir="ltr">Sent from my iPad</div>
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<blockquote type="cite">On Dec 3, 2019, at 6:49 PM, Cecil Bearden <crbearden@copper.net> wrote:<br>
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<p>I have seen Halliburton do this 3 times since 1975. I have some engineer friends who left Halliburton and hung out a shingle for that reason.
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<p>OK, I don't want to get into politics, but I don't think that any of us want to get caught with our financial pants down, so to speak. Things are going to slow down and really get tight.. I subscribe to the Bob Livingston Letter. I have for several years.
He predicts things pretty accurately. I just do not feel that I can take a chance on the stock market at my age. However he has a lot of useful information. The letter I received today stated the reasons behind these layoffs and what might be expected in
the next year or two. It doesn't look good. I am thankful that I followed my Dad's advice and only bought equipment and livestock I could pay for at the time. With a full tank of fuel and if my health does not deteriorate any more I can weather the storm.
I would recommend you guys subscribe to the Bob Livingston Letter, it is free. I have no connection to it and I will stop recommending anything not tractor related...<br>
However, after digesting today's letter, it may give a clue as to why our old iron is not as valuable as we think it should be. There is just not as much money floating around out there as there used to be. Here in OK the horse business follows the Oil
Patch. When there is a lot of drilling and leasing, horses and anything connected with them is a hot commodity. When the oil Patch slows down, horses go hungry and horse trailers are being sold by the banks. It seems the only business that does good in
a recession is the liquor business. When I worked in the tractor shop 50 years ago, our best customer owned 2 bars!!!!!<br>
Cecil<br>
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<div class="moz-cite-prefix">On 12/3/2019 4:36 PM, <a class="moz-txt-link-abbreviated" href="mailto:bradloomis@charter.net">
bradloomis@charter.net</a> wrote:<br>
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<p class="MsoNormal">Ah but today’s MFG news has several:<br>
<a href="http://click.reply.ien.com/?qs=e03bb548e1a039502400064a0b082dd55a10f6a101e9efd7799e0dc22e688d2cb8ec0e1d287cef18bf8beaa8f8f8255ed6a83eecc27c9460" target="_blank" moz-do-not-send="true"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif;color:#C93A3A">Halliburton
Lays Off 800, Plant Closure Expected</span></b></a><o:p></o:p></p>
<p class="MsoNormal" style="font-weight:regular"><a href="http://click.reply.ien.com/?qs=e03bb548e1a03950e52d03a84c8da6a0cd579bda93e2654f34fab7eed5600e38a4264491315959474f8e37f0b1d14e99744a70a249e258ad" target="_blank" moz-do-not-send="true"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif;color:#C93A3A">Daimler
to Cut 10,000+ Jobs</span></b></a><o:p></o:p></p>
<p class="MsoNormal"><a href="http://click.reply.ien.com/?qs=e03bb548e1a03950472d576721036a2609258780a240f0e8c37e502adaf2c6cff3ecf119190148f4eb1ddb7a368410003443989b3281127f" target="_blank" moz-do-not-send="true"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif;color:#C93A3A">US
Manufacturing Contracts for Fourth Straight Month</span></b></a><br>
I guess thing’s aren’t all rosy in the manufacturing/industrial world. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> AT <a class="moz-txt-link-rfc2396E" href="mailto:at-bounces@lists.antique-tractor.com">
<at-bounces@lists.antique-tractor.com></a> <b>On Behalf Of </b>James Peck<br>
<b>Sent:</b> Tuesday, December 03, 2019 8:54 AM<br>
<b>To:</b> Antique Tractor Email Discussion Group <a class="moz-txt-link-rfc2396E" href="mailto:at@lists.antique-tractor.com">
<at@lists.antique-tractor.com></a><br>
<b>Subject:</b> Re: [AT] OT NG and diesel<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Those are all salaried jobs. They probably allow managers to rank the salaried employees and cut those with the lowest ranking. It does not really reduce the people on the shop floor operating the manufacturing equipment. On the other hand,
they probably should not cut the people in the high turnover disciplines because they will empty out on their own.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">And some not so good news on the manufacturing front:<br>
<a href="https://www.manufacturing.net/home/news/21103326/cummins-cutting-2000-jobs-in-2020" moz-do-not-send="true">https://www.manufacturing.net/home/news/21103326/cummins-cutting-2000-jobs-in-2020</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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