18 replies (most recent on top)
16 people is a lot more than 15%. That doesnt count the people fired two weeks ago. Noble is not an environmentally conscience company. With loss EHSR suffered you can say good by to NOHARM. I heard that entire group got axed
15% reduction in headcount in EHSR
I'm an ex employee but heard 16 people in EHSR got the axe. Sounds like a lot for one group.
I counted 7 people ‘presence unknown’ in EHSR
EHSR got slaughtered today.
Any other news on anyone getting the axe today besides the previous poster?
Ehsr right now. Just got the ax.
"Does anybody know if more layoffs are happening?" Not to be rude, but do the math.
in Feb. the big three promised analysts $500MM in free cash flow for 2020. It has to come from somewhere. Israel won't take care of it all. None of it will come from exec salaries or board fees. When was the last time Noble generated $500MM in free cash flow? Never, right?
What wall of cash? 12 weeks pay doesn’t qualify as a “wall of cash”. Anadarko employees will be getting two years pay. They’re begging to be laid off.
sat behind 2 noble managers on a plane last week and they were talking about layoffs coming soon. i don't think they would be talking about it unless it was this quarter.
Who's ready for a Wall of Cash?
I’m hearing August 8. Noble’s history is to lay-off on a Tuesday. August 8 is a Thursday. So who knows. Noble has mastered layoffs by now... they are experts at layoffs. Doing it more frequently than any other company since 2015.
Second or third week of August
It’s time for big time layoffs and time to get a work environment at Noble that focuses on profits. Enough floundering. In the last 5 yrs. NBL’s price is about 25% of what it was. Geez it’s down 30%+ just in the last year. It doesn’t make any profit. Revenue is stagnant. There needs to be a total change out of management down to the Asset Team levels (they are totally yes men) and a new BOD.
with how poor the company's financials are, I would not be surprised if another round of layoffs happen before year end. Tax advantages to doing it in the 4th quarter
Earnings call on Friday at 8, Houston time. Dial in and see how the dear leaders address negative earnings and negative cash.