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Topics regarding layoffs at Valero Energy Corp.
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They are talking about more capital expense cuts
A large group of contractors was let go late last year and in January/February 2015. Things will get ugly in Q3 and Q4 if prices do not recover. Valero has been slower to move than some of the competitors but it's always laid off contractors first.
Now that the prices are so low do you think that some wells are not profitable and that we will slow down exploration. If that happens, we will see job cuts very soon, q1 or q2 of 2015 will be time of layoffs. I believe we'll start closing wells as... read more
I was a contractor with Valero, in Corporate IT and I was let go. Valero does this a lot, they keep a ton of contractors as they are easy to release. The bulk of work is done by contractors and they are the easiest targets for layoffs. Valero will be... read more