If the plan is to reduce headcount to 50k. Is that just in Houston? How many employees do we have with the amount of people quitting and retiring?
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Put me down for one less. Bye Felicia!
Please cut EMIT by 50%
EMTEC plan is to maintain HC overall but reduce by 70% in high cost locations by 2027. Don’t get stuck when the merry-go-round stops.
headcount reduction in 2021 was -9000 (from 71k to 62k) according to public filings.
There is no indication that this has slowed down in 2022.
As a matter of fact, it probably accelerated (my team shrunk 20% this year compared to last year, this accounting for resignations + new hires).
I estimate -12000 employees for 2022, that is, -1000 employees per month.
Thus, we must be at 52K today and will end the 2022 at 50k.
The challenge to reduce headcount is when one people leaves in US, company will hire at least 2 in overseas.
Annandale closure will also help contribute.
What are we at right now if 50k is the target?
Houston is one of the main levers to bring the global number down to 50k
@OP Your plan should be to find another job while there’s still a strong job market.
Bosses across all industries have been circle-jerking to the prospect of a recession for months, but in O&G there’s actually going to be one, mostly due to poor management.