Has the lay-off/furlough bullet been dodged at upstream chemical facilities? Very few cuts in this segment to date and oil prices are quickly recovering to a level that supports onshore well restarts—even if operators would be a hell of a lot better off keeping them shut in the rest of the year
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Nalco board? Nothing going on it seems
You think we’re doing bad, check out the Nalco board on this site!
35-50% dependant on the business. Appears they made use of the billion dollar write-down to pay off this RIF, should have seen it coming. Weatherford did same action, it did not take long to dig themselves another hole. Baker had strong financial with 36% ownership by GE, time will tell how this plays out
Maybe not Chemicals as much as the other divisions. But, a lot of the support teams were impacted in Sugar Land. The ping pong table is collecting dust, the vending machines have expired snacks, and the morale is even lower than usual.
Things started going downhill since they replaced the Community Coffee with Folgers, and the leadership group got the exquisite brands and flavors. The fancy pot for the masses in the cafeteria was pricey, therefore headcount was further reduced to justify keeping it.
I wouldn’t say 50% reductions, but it has definitely been thinned even more than the past few layoffs. Maybe more like 10-15% of the staff (at most).
Baker has fallen quite a bit and no longer is the company it once was.
UC HQ has been gutted. I don’t know the actual numbers, but SL looks like at least 50%.