Exxon lays off 15% of global workforce
Are folks on Blind okay? https://www.cnbc.com/2020/10/29/exxon-announces-additional-job-cuts-amid-ongoing-covid-19-hit-to-oil-demand.html
The cuts vary widely by business (Chemicals only -20, F&L -200, Upstream -750)
Man, Oil & Gas ⛽ on the downturn. What will they do when it comes back, it will and they will be needing but by then no one will want to work for them.
Jobs are going over seas man. At least for technical work.
Damn that sucks :(
Am i the only one who thinks 15% (1900 heads) is not that many people? I was expecting at least half. Its good news they arent laying off that many
I’m not affected by this personally but think of the contractors. 1,900 may not seem like a lot but when 14,000 contractors already let go and probably more that is a lot of people out of work.
I thought most contractors had already been released earlier this year
LOL my ex company has it just as bad
Ex is chevron or is that current?
Chevron, I’m out of O & G. Fossil fuels is gonna be replaced by renewables
Oh oh. Getting ready for the eventual here as well. I am leetcoding, learning sql, did an AWS cert and working on a Linux cert. All those years of being lazy are going to bite me.
Left O&G years ago and couldn't be happier. Calling it now, industry commentators will scratch their heads and wonder at the lack of talent retention when oil bounces back up again
Oil will never bounce back to its highest levels. May get a little higher than now but it won’t be as dominant.
Never say never. Lack of investment over many years may lead to a shortage by mid-decade. Couple in reluctance to finance from major institutions and crude prices may go up well above what you are expecting.
Oil will bounce back but a heavy amount of talent will be lost and will not be recovered. This is mostly above site cuts. Site cuts will be progressed over next few years as we transition to India and kuala lumpur for engineering. Reliability and process safety will be destroyed in five years and they will be wondering what happened.
Meanwhile gas in California is still like $3.42 per gallon.
Blame your politicians for forcing companies to produce a special grade of gasoline, lack of infrastructure to produce out of state and bring to California, and the high tax rates that the state puts on the fuel.
I will! Damn them all!
Good
Dec 15 for involuntary notifications. This is in addition to the 8% the company already got rid of through PIP.