LABU will lay off 51% of employees by January 1. So we are feeling the pain down South. I was told two scenarios that it just was Argentina and the other LABU. So for any Expats in the U.S. from here....there arte no jobs to come back to.
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You're right, Anonymous125623. If the past is any indicator, there will probably be more lay-offs, particularly if oil prices remain low. During the 80's, Gulf had 2 layoff rounds. One in '82, and another in '84. Then the merger took place in '85 and with it there were BIG layoffs. When prices hit their lows in '86, CVX did another round, then another, smaller one in '88. Those were some dark years. Five rounds of layoffs in 6 years. Some folks took it pretty hard. Others took it as an opportunity to define completely different career paths. Good luck to all.
So of course Chevron will never just be frank. Argentina is what initially leaked out. My supervisor(who would know) said it's not just Argentina it's the entire BY. So yes Venezuela would be included. That said just like everything some areas will be scorched while others very little. Reading posts here I think we get it. This company with the biggest debt ever for a U.S based company was banking on high oil prices. With the market crashing Chevron is truly in trouble. So if I escape half of the work force getting sliced I am not "O.K.". My supervisor said the main "talking point" is no more cuts after this. It is just a talking point, better known as a lie.
Does the 51% cut for LABU also include Venezuela (Caracas, Maracaibo and Puerto La Cruz)?