What does this mean for jobs.
7 replies (most recent on top)
Be glad you don’t live in a place like Alaska where oil companies in the past have done layoffs just for the sake of fighting tax policies on the state level. So many lives impacted by the greedy few. Mr T. knows who we are talking about.
It's very simple. Management will look at the balance sheet to determine their best method for keeping stock price high and dividend in place. When profits are looking down, it's time to for layoffs.
You are making a good choice assuming you are healthy. You can always retire but getting back into the workforce is difficult because retirement is so relaxing.
I feel for our children, grandkids, and their children in the future with the amount they will be taxed, and their ability to get jobs that keep up with inflation. I was going to retire in 2023, but now I am sticking with it until I get chased off or inflation comes down. I can make it into the office with no problem for three days. The bigger issue with us older ones continuing to work is that it cost younger people their entry into a good paying job. With my salary they could hire two younger people, so for the short-term that is is someone younger not taking my place. It is just too unstable now to take a chance with retirement. I see all the interns we have and they are really good, but they might hire 20 out of a 100, and there are many more on the streets looking for jobs after graduation. i was looking forward to retiring and opening the door for the younger people, but not right now. I think this is going on with a lot of boomers.
The more things change the more they stay the same. The industry will continue on its merry old way sidestepping unfavorable Washington policies. The only thing we need to fear are ultra low oil prices like we had during Covid.
If I were in college right now I certainly would not be trying to enter the oil and gas industry that’s for sure.