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Considering Weatherford position

1,694 Views | 4 Replies | Last: 6 yr ago by czechag_04
czechag_04
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I'm currently being offered a position to work at weatherford in Houston doing similar job duties from what I've been doing at a competitor. I wanted to know y'alls take on Weatherford in general, from work environment to management to benefits/insurance.
TIA!
PetroAg87
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AG
I put in some time there and still have a lot of friends there. Company has had problems due to past accounting errors, FCPA investigations and fines, and some questionable corporate decisions in the recent past. Massive debt, but the recent cash influx from the Schlumberger JV is helping.
Insurance benefits are pretty good. 401k program used to be OK but they stopped matching anything last year due to the the slowdown. Major effort to cut any and all expenses possible, even at the possible cost to future work. Getting AFEs approved can be almost impossible. Working environment is OK. Good people over there for the most part, but a lot of frustration recently due to expense cuts and the headcount reduction. Originally at over 52,000 and now down to around 20,000 I think.

I wouldn't be afraid to work if the salary package and opportunity/role is what you want. Just be aware that there is even less stability there than you will find in the other major service companies.

mazag08
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AG
Their entire business model for the last 5 years was to only do things that would position them to be bought out. Their CEO is a complete fool. That said, I've heard nothing negative about working for them. Most people I know are happy there.
czechag_04
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Thanks for the feedback
themissinglink
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AG
Looking at some of the criticism of Weatherford, they have had new management team as if the last 6-9 months. It still may be a poor environment, but the guys at the top that were running it into the ground were fired.
czechag_04
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Well, that's promising to hear.
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