An example here. I realize you have to please the shareholders but at the same time the 120,000+ employees are all shareholders. Also you still have to take care of the customers.
http://www.worldoil.com/Pemex-squeezing-suppliers-for-3-billion-as-staff-jobs-protected.html
do they give everyone they lay off severance pay ?
This is tough. On one hand, I don't want a pay cut to keep low performance people. On the other hand, if it helps keep high performers than that is worth a consideration. However you need to realize the salary is not the full cost of employment (healthcare, retirement contributions, vacation days, sick days, training, taxes).
If it saves peoples jobs including our own its a great idea and is better that losing your job
Why dont we just take a pay cut, that is it, easy
Totally agree with you. Other companies have in the past reduced salaries on a temporary basis to minimize the lay offs and then increased the salaries when the market improved. I know one oilfield service company who did this in 2009 and even the CEO took a pay cut
It would be good to see Kibsgaard and co showing some real leadership and doing something similar - can you imagine what that would do for employee morale and productivity?
But this is not the Schlumberger way unfortunately.
They laid me off but I am so glad to be out of there. For sure it will take time to get another position but with getting the severance and not having to go in there every day and be totally demotivated it is a blessing in disguise.