Regarding the post below about Project Managers and Biz Dev employees spared in the layoffs. My sweet summer child. The April round was low hanging fruit. We are all next. No matter how special and important some of us think we are. The next 18 months are going to be hell.
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I predict more cuts to staff and start to squeeze those that are left, cancel project and reduce maintenance spending. Then further down the road when there's nothing left to cut to make the books look good, sell part or all of the business for a big executive payday.
Bold prediction time... Mick leaves the company sometime in 2022 or is removed under the guise of an early retirement. Shakeup at executive and board level. New logo and rebrand.
With future projects deferred and budget slashed, was surprising to see so many PMs and senior BD reps survive the April layoffs. Optimistic sign for a turnaround?
Lower cashflow. Additional projects and work deferred. Another round or two of layoffs. Executive compensation slightly lower. No Christmas parties. 2021 will be ugly for Pembina.