Just got the nasty gram sent to all employees. "Over the next several weeks, we will be implementing a significant reduction in our workforce across the globe."
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I have heard that the plan is to cut 25% company wide. Starting this week and going into late March.
When will Dave and Jeff feel the burn personally? Having worked with both I am assuming they will take care of No. 1 and No. 2. That is the oil field in a nutshell. The good news is that in two years they will be looking for new hires - at 25% lower salaries. That wipes out 10 years of 2% salary increases and resets the clock.
As someone mentioned earlier, anyone that is shocked by this hasn't been watching the news, reading articles, watching stocks. I hope the good people that lose their jobs can bounce back fairly quickly. I also hope they use this opportunity to clean out the worthless blood suckers and the dinosaurs who refuse to move past the "old school" mentality.
Next couple weeks, try today. It was my last day in Houston. Good luck to everyone still left. It's been a wild 30+ years.
Cheers.
At least they didn't coat it in BS this time!
I thought the email showed some transparency and integrity. At least some notification
We are already at 50,000 people. We peaked at 80,000 in 2013 and have since laid off over 20,000. They are gonna drop our number down to about 35,000-40,000 so they can bring over 10,000-15,000 baker folks. By my estimates that means this round of layoffs will be equal to all the layoffs the company has had thus far. It's gonna be a crazy 2 or so months. If you are in a position where you are only doing one thing better get ready cause your gone. They only want to keep people that can wear multiple hats at once.
15,000 to 20,000 layoffs to bring down the headcount to a 2009 level of 51,000 or less.
Not just layoffs, didn't you catch the part about being over "capitalized in terms of people, equipment and facilities". This means they will be completely shutting down camps and getting rid of equipment.
I am still in awe that people haven't seen this coming. Where do you folks live, under a rock? Pull your head out of your @$$ and breathe in the reality.
Are you complaining? What do you expect them to say?
Uh, we know. We have email. You forgot to post that the sun came up this morning.