Is there even a slight chance we are done?
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After being laid off in August, I have spent the last 4 months trying for a job in this very trying time in the industry. Finally after networking on LinkedIn, I had 3 interviews over the 2 week Christmas break and got a job in Houston. It is for less money base than I was making, but with the promise of a much higher base if I perform. Also a much better bonus and better working conditions. I hated my last 2 years at Noble and am glad I am gone.
As a former exploration member I can vouch that the leadership there is full of sycophants. I'm about to interview for a corporate level position for a smaller company. Being laid off by Noble is one of the best things to happen to me even though searching for a job in this environment has been tough.
What did I say?
"Who are these people... ...dragging Noble down? ...They are the chosen ones, the managers, the directors and VPs.”
“The fools that made all the mistakes are still here and they control the agenda."
You will note, management was specifically identified.
That said, BD management and their chain of command are directly responsible for upping "the bid". They deliberately cooked the process to push through what they wanted. Their exagerated numbers convinced Noble to burn through more cash chasing garbage than some countries national budgets.
The primary culprit is the exploration VP, Mr. Gravel Voice. He’s never seen a prospect he can’t make bigger regardless of merit. Worse, he backfilled management positions with all his lackeys, many of whom have now spread throughout the company. They were promoted for their sycophantic tendencies and lack of ethics. These are the people dragging Noble down.
So yeah, BD management IS responsible.
Don’t get me wrong, the executive suite and board share responsibility. They have ultimate say, chose to promote Mr. Gravel Voice and subsequently followed his advice.
BD was NOT responsible, an amount was given to Management and Management upped the bid!!! As usual Management is the problem
"Wasn't BD responsible for most of the poor deals that Noble made? Why not hold them accountable?"
That would be logical. But then this is Noble, since when has logic played a role? No, at Noble the ones who make the mistakes get rewarded with promotions and bonuses all around.
Who are these people, the miscreants and incompetents that are dragging Noble down? It's obvious isn't it? They are the chosen ones, the managers, the directors and VPs. Expecting change? Don't. The fools that made all the mistakes are still here and they control the agenda.
Wasn't BD responsible for most of the poor deals that Noble made? Why not hold them accountable?
HR doesn't cull their own. They do the culling. Most secure jobs in the company.
No one in BD, I can only HOPE!!
Has Business Development, Drillng, Suppy Chain and Human Resources let go anyone yet? Could they be next?
Continuous bad decisions by Noble's management team have driven this once great company into the ground. They are having to lay off key people to try and survive. 5 rounds in 4 years makes for paranoid non-productive employees and should send a clear message for anybody looking at Noble as an investment option or for a future employer.
"There will be more centralizing and downsizing until the company is attractive enough for a big buy out. Occidental saved Anadarkos bacon. Noble is hoping for the same."
Yes, the downsizing will continue. But no, there won't be an Occidental to save Noble's bacon.
What does Noble have to offer? Not much. EG? Mature and declining. Eastern Med? Israel may add revenue when Leviathan comes on stream, but options are extremely limited for a potential buyer. The government of Israel will have a big say. New Ventures? LOL! They are just a circle jerk that burns money. West Texas and Niabrara might have some value to a shale player, but then they'll get sold off one piece at a time (like the GOM) to raise cash and keep the execs in power.
Sorry, this company is one of the walking dead and everyone knows it.
There will be more centralizing and downsizing until the company is attractive enough for a big buy out. Occidental saved Anadarkos bacon. Noble is hoping for the same.
Oh it’s never finished. There is still tons of corporate overhead to trim.
Unless your VP has held a meeting laying out their new organization at the lower management levels, don't assume it's over. Maybe DS will give an update when it's finished.