Topics regarding layoffs at Hess Corp.
So with the impending re-org and layoffs scheduled for next week what’s the word on the street?
Voluntary severance package rolled out this week in ND. Only a matter of time before non-voluntary rolled out.
It's sad as we know what's coming
How is Hess weathering the coronavirus storm. I left in 2015, and retired. Good luck.
Watching the CVX APC deal go down; interested in hearing about whats the word on Hess
What is a Director Level Salary Range at hess? Thanks in advance.
Hess in a hostile and caustic work environment. Surprised they have not been hit with a lawsuit for s-xual harassment and hostile work environment. Recently sold the last asset that would keep them going and they having been bleeding red for a very... — read more
Will the The Woodlands, TX and Houston TX real estate market recover from the the Oil Industry downturn and continued layoffs that are occurring?
So Hess is now doing a $1B stock buyback. Sounds like they have no good prospects to invest in so buying back stock is the best alternative. How long till a major takes a run at Hess for the Guyana prospect?
Bloomberg Business Week is calling Hess "the incredible shrinking oil producer" in light of a new round of layoffs. When is the management of this company going to recognize that they can't make up for their ill-timed and ill-advised decisions of the... — read more
This article says that 300 people will lose their jobs in this round of layoffs, which is significantly lower than the numbers we've been hearing lately. Any chance this guy is actually correct?... — read more
Anybody knows if the layoffs have started? Any Hess Houston employees here who can give us an update? I've been on the edge this whole week, and I'm not even in Houston. I can only imagine how people there are feeling right now as the week gets... — read more
Currently about 2300 Employees hearing that reduction will be about 35% (780 people). Out of those people cut supposedly 80-85% will be Houston personnel. Reorganization starts on Tuesday! Found this info in an old thread, thought it belonged on top... — read more
It's been reported that Elliott Management is getting geared up for another proxy fight with Hess with the intent of ousting the CEO. Elliott also wants a cut in dividend, increase share buyback, sell Malaysia assets, and possible sale of the... — read more
Can people at Hess realize that a company is run by more than simply engineers and geologists? It's astounding how little respect you get here if you are in other departments. Do people really think that accounting and finance don't contribute to the... — read more
I was treated awfully at Hess. There is no sense of loyalty or value as an employee there. People were promoted due to politics instead of expertise. Positions that could easily be filled in-house were done outside of the company devaluing its team... — read more
A company can't last that has people in lead positions that don't even understand how things work or know what their people even do! You also can't go from having parts you need to keep things running to being weeks out to get these parts to keep... — read more
Whoever said Hess Corp. was in a death spiral it appears they were right. It looks like we are headed below 13 billion market cap and maybe 10 by the end the year. I bet we have layoffs just to satisfy the stock holders that something is being done... — read more
Something has got to happen soon to stop our death spiral. I am afraid we are about to have another big layoff soon. Has anybody heard if management has a rabbit to pull out of the hat soon?
We aren't making it and Hess will either be bought or we will have to sell assets and layoff s bunch of people to cut overhead!
Why are we still investing in capital intensive projects like deep water oil (Stampede)? Doesn't our management know that our industry has been changed forever by technology? Short term, low capital, projects in our own stable environment will be... — read more
11.3% have been severed - 238 of 2101 All employees severed today were given a print out by title and age of employees retained vs. employees severed, as a means to divulge that there was no discrimination by age taking place. Lay offs by title are... — read more
Tublar Bells is a catastrophic failure. Let's hope Stampeed is better.
Those given layoff dates in 2017 not given the full paperwork. No date in writing all verbal notification. Can't get good information out of the HR group regarding why the information is not available. Not cutting the top dogs but middle management... — read more
I heard rumours Hess will close Perth office. Is it true?
11.3% are being severed - 238 of 2101. All employees severed today were given a print out by title and age of employees retained vs. employees severed, as a means to divulge that there was no discrimination by age taking place. Lay offs by title are... — read more
Here we go! We borrowed money and sold stock but we did not stop the precipitous fall! We need a change in strategy to survive!
Prices are predicted to stay low for a very long time! Is management sleeping? Someone help me here, has anyone seen the changes in strategy required for us to survive? Maybe they are just planning on selling out!
While we are still focussed on deep water expecting Oil prices to recover soon no one seems to be looking ahead. The technology that has increased oil supplies and dropped it's price has not yet been applied to many tight formations in the Middle... — read more
How long can we hang on? We are still planning and working on deep water projects which we know will not be profitable for years if ever! When is our management going to wake up and start shutting down high cost high risk projects and start focussing... — read more
Management still talking about this development in the land of Oz, fiction ?
Horizontal Drilling and ZIpper Fracs has opened up so many onshore low risk opportunities that the need to drill in deep water with associated risks and high cost is gone. This technology is just beginning to be applied to tight low perm formations... — read more
We announced that we were not going to keep current production level or grown but ride the decline curve of our assets. This means no drilling no completion and a need for way less people
Six companies that lost the most buying back their own shares - at loss... The companies with the biggest paper losses - Hess made the list: IBM: - $9.8 billion Qualcomm: -$7.4 billion American Express: -$4.1 billion Exxon Mobil: -$3.9 billion Hess:... — read more
We are in real trouble, get ready for the next step!