Just found out that our business unit will endure about 12% layoffs. I suppose, if you're like me and want the EOI option, it's not so bad. But our BU, one of the top, if not the most profitable & highest production in the country, taking a 12% cut is brutal. Good luck to all and hopefully those who EOI will get their wish, allowing the ones who desperately need a paycheck to support their families, to continue in, and hopefully bring this company out of the ashes to rise again!
29 replies (most recent on top)
If you do not know what GOM is, you probably do not belong in the oil business. Gulf Of Mexico
Try 70% in yours, and 0% in mine, and you'll be getting warmer, lol.
Try 70% in some functions...
Most BU’s and companies have already announced their %cuts in last 2 weeks.
Some people took the early EOI, some will eoi at the second opportunity. Some people move on to another BU, or another country overseas, San Ramon, etc. Some will be left standing. Some positions are eliminated, some combined, others created, others relocated. Do you have all the org charts from before and after? Did you count the changes in headcount across the enterprise? RM and corporate HR are the only ones who really know the numbers. Everyone else just works in their silo. Show me the hard count figures from payroll and HR, then I will believe 15%. We don't know jack sh#t.
We have no reason to have faith in an estimated %. Wait until the shoe drops and then see if you can actually determine the number laid off and the % cut. Guess what you can't. You and I don't have access to that data. They can say whatever they want. Sure you might get close but we will never really know.
Accelerate down stream was - 20% work force reduction - was more
10000 out of 48000 => is 20% , I think you are little on the high side , I'd say 8000 will be let go
8000 times ave O/H per employee charge rate of $150 per hour =>2.3 B saved on compensation/ year
Just use some uncommon sense dude. They told us that the overall % would be 15 and and and they will be keeping more of the folks who are technical. What this means is: they are cutting > 15% in the earlier rounds but those are only a few employees , the majority will be cut in R4 and that number will probably be around 12-15%. Bottom line that are keeping the technical staff around to keep the basic machines running and cutting out unnecessary fat. This will last a few years until the demand for O&G oil slowly picks up again as the recession fades and they can afford to expand. If you are on a team for a mission critical system and you are good at your job you have fair chance of keeping your roll. They are cutting a lot of ITC because of the move to the azure cloud.
I have a feeling that the overall numbers let go are higher than we are being told. Remember when they suggested 15 percent? Nope, many BUs are being cut deeper as shown below. I would suggest over 10,000 are released by end of year.
How about those Corporate companies? Are they safer or even deeper cuts?
If GOM is 40% but anchor is 0, it means elsewhere in GOM is more than 40%!
What about Tengiz? It’s operating now so I would assume no cuts, like anchor?
1qdd: your post makes no sense. If they had cut everyone in r1 & r2 if would have make little difference in the total numbers laid off as there are just very few people at those grades. That said, one cut in r1 or r2 would have saved money for 10 in R3 or 20 in r4.
They are cutting lower psg folks in round 3 & 4 big time but overall reductions of high level psg’s in round 1 or 2 was minimal so it averages around 15% for the company.
SJVBU announced 11% last week... ya but that’s because the new buyer wanted to control their own reorg.
Jus kidding.
It’s amazing GOM appears to have survived in any capacity.
That is sad news about GOM, I heard they were one of the best BU’s in the corporation. Good luck People of GOM you’ll be remembered as some of the best.
SJVBU announced 11% last week
@oqz. The OP could be entirely truthful, it's your post which makes no sense. You have no idea which BU they speak of, yet you falsely make a claim about an unknown BU. Talk about fake news. LOL!
This post does not make sense. What are you trying to say? Your BU not the most profitable.. taking 12% cut is brutal? That's not brutal. 30% is brutal.
How about the China BU, anything left of Bahai Bay or CDB?
Every area seems to be 20%, 30%, 40%. How is our overall corporate percentage only 15%? What major areas aren’t getting hit?
Gom is 40% except for facilities on anchor and they are like 0%. Wtf is up with that
SASBU has >30%
What BU has 12%? MC.. has 17% and SAS.. has 34%. 12% sounds good to me.
12% is good odds compared to the ABU at 30%. Good luck Mate and look after the family first.
Although I feel your pain, other BUs are being cut much deeper!
GOM?