When the company has to go into debt (e.g. bonds) and sell assets (e.g. pipeline) just to make its dividend payment(s); layoffs and cuts to benefits are coming in a big way. Hang into your hats, as the US expats are on a high speed exodus out the... — read more
Topics regarding layoffs at Saudi Aramco
In a desperate move to pay a dividend on it’s stock, Aramco is turning to bonds to help fund a $75 billion dividend. Exxon is also struggling to make good with their stock dividend, but will eliminate company-matching fund payments to employees on... — read more
HOUSTON (Reuters) - Citgo Petroleum Corp stopped contributions to employee 401(k) retirement plans on Nov. 1 and plans to reduce salaries on Jan. 1 to cope with the effects of the coronavirus pandemic, sources familiar with the moves said. In a... — read more
*Please don’t give people false hope. The Company generally follows pay and staffing levels from other large oil & gas firms (e.g. Exxon, Shell, BP, etc.). Exxon recently announced a 15% reduction plan, with 1,900 coming from one location in Houston... — read more
It’s starting to happen now. Locals are being offered early retirement and expats are just being released with the standard benefit. Thousands will be let go across several large organizations. These releases will occur in a weekly, steady stream up... — read more
There's been enough rumors to make me worry. If the answer is yes, any ideas on what's going to be hit?
Executive high management can add 800 to the recommended cuts list by eliminating the worthless Research departments. Particularly that one on Dhahran road. Nice building. Start with computational fluid dynamics personnel. Give me a break like the... — read more
Hello all, i heard that IT teams of SABIC will be laid off and merged with ARAMCO soon on october as part of cost cutting. Does anyone have more info?
Current staff can expect a large 20% release of staff by year-end.
Apple has surpassed Saudi Aramco to become the world’s most-valuable, publicly traded company. Pompous Management at Saudi Aramco cannot figure out why their IPO is such a disaster.
Let us know if a second round is coming.
People being bitter about Aramco cutting 5% of expat workforce. So what, the company had to do what the company had to do, low oil prices and a global economic depression. Chevron has been doing this for 30 years. Aramco resorted to this only a... — read more
What’s happening with the IPO and SAIP with all these reductions in expat workforce going on? Are these two offerings still ongoing? Are people buying this stock? Are employees still receiving SAIP payments each March?
Source Below... DUBAI (Reuters) - Saudi Arabia posted a deficit of 109.2 billion riyals ($29.12 billion) in the second quarter this year as low oil prices hurt revenues, a finance ministry report published on Tuesday showed. FILE PHOTO: A Saudi... — read more
Hello everyone. In case you need options for flight out, Lufthansa has announced more flights for August. These are on Aug 2, 9, 16, 23, 30. Book direct with the airline. I took this option early July. Very easy. Taxi direct to RYD airport. Journey... — read more
Instead of letting people go, the Company should consider canceling the IKTA Initiative in PSCM because it has no concrete accomplishments, even after years of efforts and millions of dollars spent. PowerPoint presentations and awards to undeserving... — read more
What happens to your pet? Are they being allowed to travel in cargo? Able to leave Saudi?
Laid off hundreds of expats, no flights out of the Kingdom, inept Personnel Department want us to pay for and book flights from hubs out of country but won’t confirm company flights to the hubs! Expect us to empty company houses, turn in... — read more
What happened to the Company’s 2020 Vision? Did it turn into just another fad that the firm was chasing? What happened to the Operational Excellence Program? What happened to the IKTVA, in-Kingdom Total Value Added, program?
The current batch of US Expats being laid off are of very high caliber in terms of education, experience and work ethic. Having survived several large layoffs, the group being let go are people that simply the victim of circumstances within the... — read more
For the several hundred expats who lost their jobs, were you folks able to get flights out of Saudi Arabia? Did you encounter problems with getting your final exit visa and getting a flight out?
Aramco could layoff the entire PMOD and the company would not have lost any contribution to the bottom line except costs saved. PMOD is a worthless organization.
Metrics, in comparison with competitors and the local Saudi Market, suggest a reduction of about 20k in workforce, with it being phased in over the year due to logistical pressure. Advice - look after yourself and your family by planning for an... — read more
This is one of the reasons for the layoffs as well. They need the money to finance this, and they'll get it any way they can. Saudi Aramco, the world's largest oil producer, is in early talks with banks for a loan of about $10 billion to help... — read more
Corporate Affairs and HR layoffs started yesterday.
Huge salary? Hardly! It’s more like a mediocre salary with extras to compensate for the mental trauma and psychological damages done by working here. Do you think the monthly pay statement is known amongst expats as “the monthly apology” for a... — read more
https://www.bloomberg.com/news/articles/2020-06-18/saudi-aramco-slashes-hundreds-of-jobs-after-slump-in-oil-prices Saudi Aramco Slashes Hundreds of Jobs After Slump in Oil Prices JAVIER BLAS JUNE 18, 2020 Saudi Aramco, the world’s... — read more
What happened with 'freedom of speech'?
I'm a former Aramcon. Left under my own decision a few years ago, so my situation not the same as those who are being laid off now. Here's my thoughts about how to get through this transition. Print out your job service letter. Go to JAHA... — read more
Being laid off is never fun or an easy pill to swallow. It’s especially difficult considering the current employment conditions most people will be returning to in their home countries. Not counting the additional stress of uprooting the entire... — read more
Expats who have been with the company the longest have the highest pay. If the company needs to save money, it will ALWAYS first cut those who cost the most. It's the logical move to make. There is no conspiracy theory or anything like that, it's... — read more
Layoffs sometimes are a necessity and Saudi Aramco has been a great employer that sometimes we forget that it might go through rough times and downsizing becomes inevitable. The portion of the layoffs is much less than the majority of the companies... — read more
There are many reasons for the lay off going around... I think the way it is being done, during the pandemic is very harsh..people are stuck here, have not seen their families for months, and have been loyal to the company for many years. To... — read more
The number is around 600 between now and end of month. Today they hit IPD, COD, fpD, audit... This was the first batch. If you are working from home and receive a meeting request in the office then that’s probably it.
And so it begins. 20 odd expats today. Slow drip till the end of the year.
The bun fight has started! The USA pulling two Patriot Missile Batteries from KSA.
You are not stuck here with me....I am stuck here with you.
Is there a hiring freeze right now?