No large scale layoffs
8 replies (most recent on top)
People really need to start paying closer attention to ALL the information around them. Breakeven at $45 per barrel has not been achieved yet...we were going to get to that breakeven point by taken several measures (like a full exit from Deepwater) that have not yet been completely actioned. Even when a $45 breakeven is achieved, it's just that. Breakeven is not profitability. And if/when profitability is achieved, they are going to focus on repairing the balance sheet, not immediately jumping back to production. In 2015, $1B was removed from our op/ex...guess where about 80% of that came from? Headcount reductions. Costs are still way too high and the ONLY way to reduce costs is further headcount reductions. And there's no one left who was given a poor performance rating. People who are strong, consistent contributors, with talent and experience will be exited. Somewhere in the range of 10-20%. There's just no way around it anymore. So, take your head out of the sand, pay attention, update your resume, get your finances in order, and network. Quit wasting time back stabbing and pushing people under the bus and start making a plan for what you will do, just in case it's your turn in June or July or August.
these small layoffs will happen...no matter where you work
There have been quiet layoffs in both america and canada in the past month. Layoffs are under 50 people per day so it was not announced to the media or the company announcements. Be careful! Rumor has it there are layoffs in July again in both location.
This brilliant financial insight is similar to the management decisions that led to COPs decline. HYWEAhW, you should be a COP manager or executive.
You my friend....are fiscally challenged.
Get a clue
Look at the financials and he current staffing level. Oil price above $40 doesn't guarantee anything.
Ps, oil over 40 doesn't mean sh--...have you seen our balance sheet lately?
Even if it is a small cut, and let's pretend only 10 are cut, if you are one of those 10, in most cases, it is devastating. So saying no 'major' cuts isn't always comforting....not only does being cut hurt financially, but it hurts emotionally.....especially when there are total cheating losers who are kept.