There will be a 30% cut this time with a goal of closing down Canadian operations excluding oil sands within the next few years. Middle Managment will be on the block so don't expect them to have any information. They were asked to identify 4 and 5. Selling of assets has just begun.
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I've spoken with lower level supervisors who have been asked to rank thier team members in anticipation of a cut. I'd expect between 10-15%, including those impacted by the pending asset sale.
The European operations were gutted well in excess of other business units including the Canadian operations. The information provided via upper management to both the internal and the external entities is the output of a delusional individual.
Cuts will definitely happen since we are selling 35,000 boe/d of production from WCBU. The people that work those areas are NOT included in COST numbers so it will be a double dip.
Western Canada BU already had 7% trimming in March, i dont know if they are going to trim it further? When Matt Fox came to Canada during townhall he said Canada was most effect during March layoffs (not sure if he was being real or trying to be sympathetic)
Any thoughts?