Pros
The Good: To be completely fair, this company has a great history of manufacturing solid engineered products by skilled, hard-working folks around the globe. They tried re-branding following the turmoil in the oil markets, but their strategy was not well thought out and executed most poorly.
Cons
The Bad and the Ugly: They tried, but as potential solutions to save this company failed, that's when you could begin to see the proverbial "rats on the sinking ship" seeking higher ground. A competitor buyout at a per share premium was met with stiff-armed opposition. Corporate leadership pushed back continually while putting out 'feel good' emails and "do a good job and we'll get through this" communications, only in the end to gut the company like a pig. When the buyout 'storm' passed, corporate began peeling the organization back like an onion. Divestitures are the new norm- there's little left of a company to sell. Benefits- slashed (401k contributions eliminated for 2020), an across the board 5% pay cut for salaried workers, merit increases 'delayed,' furloughs, etc. You get the picture. These aren't cost-saving measures, they're 'coffin nails.' The bell is tolling.