Thread regarding Saudi Aramco layoffs

Advice - look after yourself and your family by planning for an exit especially if you survive this round.

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 exit especially if you survive this round.

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Post ID: @OP+15GhWD5o

8 replies (most recent on top)

In most cases, If you are approaching 60, or you are into an extension, a low M is almost sure. Then they will kick you out.

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Post ID: @hdsl+15GhWD5o

I cannot tell you how much I wanted to be laid off the last year I was there. The Company started to treat older employees very poorly. In good times, they placed a lot of value in the older worker. In bad times, you are mud. I had been through so many hiring and firings that I just lost motivation. Up until the last three years, I tried to keep up appearances and pretend it was a great place to work. In the end, I realized that I was “institutionalized.” I hope all the expats that are still there and those that were recently let go are okay.

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Post ID: @gqlf+15GhWD5o

People may be “downvoting “ this post because they are scared or a little skeptical of the high number. There is a precedent for such an event that occurred in the 1980s. What happened in the past may happen again.

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Post ID: @eots+15GhWD5o

Why are people downvoting this?

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Post ID: @2akw+15GhWD5o

Also here is a recent Bloomberg opinion on Aramco finances given dividend commitments, sabic, and government commitments among other things.

https://www.bloomberg.com/opinion/articles/2020-06-28/saudi-aramco-s-dividend-math-doesn-t-add-up-considering-oil-price

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Post ID: @poq+15GhWD5o

I hope we are in the next round to go. I'm looking forward to going back to civilization. Lucky expats who were terminated!

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Post ID: @yne+15GhWD5o

If you look at what companies like bp, chevron and shell are doing 20,000 is not unreasonable.

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Post ID: @abo+15GhWD5o

The economy is definitely going through a rough patch but I don't believe this 20,000 number.

Ultimately, every department has a minimum number of employees required in order to sustain operations and that alone suggests this number to be inaccurate.

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Post ID: @gsa+15GhWD5o

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