So far in Europe no cuts although we Have 8% NSI, law protects us but how will EM reach target ?
11 replies (most recent on top)
Europe forum ongoing .... guess next week same type of meetings at Country level. Could become an eye opener for people located in mature countries ;-) Australia has already given a clue.
Shell is already showing us the path (forget their green washing explanation)
Hope : we are in the zig when other O&G companies are in the zag also in terms of people management.
Please stop to use the talent wording.
Right now will be a good time.
Yeah. Our VPs in EU are clueless as to what is going on worldwide...
How can the VP tell in the TownHall when nothing is finalized yet? Is this credible information.
Next few months, 10%+
It’s happening. Our VP told us in a townhall they are working with EU labor councils to get approval. It just takes longer in Europe.
Our group has been working to localize our European impats to US payroll to avoid being sent back in case there happens to be cuts in Europe.
A European Forum meeting is scheduled next week (Sept 30, Oct 1-2). It's kind of a Work Council (I understand our US colleagues may scratch their heads and wonder “what the f*ck is a Work Council?” 😀) at European level where the management will announce to staff delegates from countries where EM is present the bad news.
Expecting possible plants or units shutdowns. Only rumors so far. One more week to wait.
I&D moment : Europe has performed continuous asset optimization for last n years.
Germany, Switzerland, Italy, ....
Asset also means people : a lot of positions moved to BSC in the GSC space.
The last important one was maybe 3 years ago.
Funny some positions were also moved to US.
Country Laws give a framework but does not prevent anything if it is economically justified.
Continuous optimisation is less visible. Not doubt It is coming soon and the management is ready to execute the defined And identified plan (which may be more visible than in the past years).
Laws only protect you so much. Not like companies can’t downsize.
Simple.They will sell the assets and yall get transferred to the new owners, or they'll mothball the assets and yall get the pink slip