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Joy to the World, but not Dhahran, KSA. You better believe it, Fool!
Exxon formally announced a February 2021 cut of 700 employees, as part of a Houston plan to layoff 1,900 at its headquarters. Global 2021 plans include a 15 % (14,000) reduction of staff worldwide. Aramco will follow suit, as indicated by past business practices based on being a follower in the industry. In other words, hang onto your drawers during 2021 and don’t go into debt.
More “Knee-Jerk” reactions from the management that ruin the moral of the surviving expat population. More Outsourcing to newly established businesses for the sole benefit of the senior management’s useless (dumbo) children. More cuts to expat benefits that make talented people stay away from the Company. More pain and misery. Merry Christmas 🎄🎁.
Pain. I’ll bess as t on them again.
More global chaos...entropy.
“What will 2021 bring? Thoughts?“ - No,