Many Chevroids who survived the last rounds of layoffs in 2015-2016 thought they were safe, but 700 of them will learn what they saw happen to others. It is painful, humiliating, and demoralizing. Do not EVER become comfortable with your employment in the oil industry. This boom/bust environment definitely seems to be increasing in frequency.
6 replies (most recent on top)
Recognize that employment in the oil industry is high-risk. The period 2005-2014 was an anomaly of good times and high prices. Expect to be laid off once or twice in your career. Keep your resume and your skills current, and you'll survive.
Yawn
Wake up sunshine, this is the way the business works. If you are 50+: Do whatever you have to do to stay. 40+: You are sought after so staying will bode well. 30+: get the he!! out of the oil patch.
Never love your employer because you never know when your employer will stop loving you!!
I have been on both sides the last 30 years, mostly got selected to stay but twice was knee capped. The key is to live well below your salary when working and to live on accumulated fat during drops. Easier said than done for some, which leads to the old saying “lord please let there be one more oil boom as this time I won’t party it away”. Good luck this round everyone. Prediction: next boom is less than two years away!
This is a two way street, I recall many left in late 2017 and also late 2012 because the pay was much better outside only to get hammered with price collapsed later. So you can always at will leave the company or on the other hand they will let you go when the time is right for them. There is no comfort in corporate america, you work and you get paid, if not happy move on, if happy, save for the day you will be let go as it will happen in any industry and has happened all the time, no one is safe, if you look carefully on all industries it happens very regularly to ensure wallstreet is happy with the changes.