How long til furloughs or mass layoffs start? Sub-$30 oil is tough for everybody and the flavor of the day is cut cut cut.
Make a prediction ... when will they start? Which group is the first to go? My guess is within 3 months with ORB, Permian, and REX already in the cross-hairs.
Lee and his cronies will do another layoff of say 20% of the staff, like in 2019, taking out talent and those experienced technical personnel because with experience comes higher salary. The higher ups only look at a spreadsheet of cost. Marathon doesn't give a rat's a– about its staff. Of course, Lee and his cronies will all stay. With the brilliant strategy of all in on US Shale plays how can the company survive with a $3 stock price & oil below $30??? The lights will be turned off if oil price doesn't skyrocket soon.
Well probably not a huge need to BD right now. What on earth could they be buying? Probably anyone involved in press releases touting buybacks needs to take their medicine
Ineffective Leadership need to be the first to go. Chop them out immediately, the sycophants that told Lee he had an amazing strategy. Turned MRO into the runt if the litter. Drain this swamp before terminating any hard working employees. Blood sacrifice required from the board as well. Too many fast asleep at the wheel.
Last time around the first wave was T4's, regardless of area.
@5uuy said "Glad I work in Bakken."
Well, as of today 3/25/20, West Texas Sweet posting is $ 20.00/Bbl; Williston Sweet is $ 13.00/Bbl.
It all comes down to net-backs.
Is anyone really safe? This is why no one believes or trusts the whole relative ranking business come year-end. We never "know" our ranking, but most people can figure it out from watercooler talk. HR keeps records of it all and is an easy way to reduce headcount.
Hopefully, any layoffs will be based upon talent and performance. No group should be automatically immune from staff reductions. There are plenty of top-level performers in ORB and the Permian. Layoffs that are based strictly on geographical boundaries are not in the company's best interest. But then again, when did that ever matter.
I heard it’s happening in the next 5 days. ORB and Permian. Glad I work in Bakken.
You are literally on a website called thelayoff.com and a post speculating about layoffs is pointless?? With that kind of sound logic, you are going straight to the top, maybe even to all the way to 41. Better start shopping for a Raptor ...
Other companies are already letting folks go (Oxy, Apache) and others are starting to furlough (Halliburton). If you don’t think this is coming our way, you are completely oblivious.
This is the dumbest post ever on a lay-off forum. Why stir the negativity pot, especially in a time like this? Do you really have nothing better to do with your time?
They should start next week on 41. Do an assessment of executive decisions on acquisitions and buybacks the last 3 years. Which of those are deemed even remotely successful? None