Will there be any Energy Transfer Partners L.P. Layoffs 2020? Any news or rumors?
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Can confirm 6% will be laid off. June 1 and June 15. Apparently some of the layoffs have already happened.
Yes, announced today that on the 1st and 15th of June there will be layoffs. Layoffs will be approximately 6% of the workforce and are spread throughout the company.
June 1, as much as 10% of entire work force, get ready.
I am curious..this is a quote from the ET earnings call transcript "Based on our outlook for the current market, we are reducing our 2020 growth capital expenditures by at least $400 million to $3.6 billion and we are evaluating another $300 million to $400 million for potential reduction this year" I am assuming layoffs, for a high figure like this.
So many contractors at Energy Transfer - seems like they would be in a better financial position if they let them go.
Wrong
You can bet on it. The world is oversupplied with oil. Enough wells have been fracked and capped to satisfy demand for five years. By then, renewables will have captured much of the market. Get a good job in renewable energy that won't be subject to extreme boom + bust.