Read on Blind that layoffs are happening? Can anyone share the details? Read last week that Schlumberger also cut like 20,000 jobs. How's the Energy industry in general? https://www.bloomberg.com/news/articles/2020-07-25/reliance-overtakes-exxon-to-become-world-s-no-2-energy-company
Thanks for asking. Hang in there
Exxon is cutting off 8% workforce and another 8% FTEs are already picked
I hope that bukhari guy got axed
8% across the board, feeling is more likely to come, morale is pretty awful
I'm just glad I have a decently funded emergency fund...
Pretty well know now we're cutting 8% this year and another 8% next year. We cut out a shit ton of contractors early in COVID, now it's hitting our folks. Our performance reviews wrapped up a few weeks ago and we're in the phase of giving people the option to meet a performance improvement plan or leave with a few months pay. Starting to see evidence of people in retirement range getting forced out. Longer term, they were looking at trimming heads at the main campus in Houston for a while. Supposedly they expected far more people to quit when they moved HQ from Fairfax to Houston and that didn't pan out. They're also looking to move early career engineer jobs to global locations like our "technology center" in Kuala Lumpur. Basically just another company selling out American workers. We'll see how it plays out but everyone is expecting the next two years to be dog shit at a minimum. At this point it feels like the oil game is a war of attrition.
8%.. that’s nothing. My ex company(on my handle) is cutting ~15%.. oil and gas is trash
The plan going into this year was <3%
Time to hop to a different industry
Schlumberger here, the company went through an org. restructure last quarter. Not much demand for exploration in North America, I think we’ll be seeing same trend all across the board
As far as I know, the 20k job cut is outdated news. That was in q2. No new layoffs in the last couple of weeks. A lot of people were offered early retirements in q2.
Tech Industry
Yesterday
1637
I do tech screens at Google. AMA
India
Yesterday
1002
What do vegetarian Indians eat for protein?
India
Yesterday
591
Any Indians Think Kashmir Should be Independent?
Tech Industry
Yesterday
1580
Horrible Netflix ML interview experience
Cars
Yesterday
1619
Electric cars depreciate 10 times faster than gasoline cars
I’m at shell and we are going through what they call a “reshape”. I’m assuming that we will likely have massive layoffs at the end of this year.
How badly will it affect IT/Engg?
I think that it will depend what business you support. Unconventional and upstream looks bleak. SENA should be safe. I think trading and supply will get hammered since we are selling basically every non chemical integrated refinery.