This is my first time here actually and I was wondering if we are done with layoffs for the foreseeable future? The last few months have gone from bad to worse and it’d be really nice to know that we’ll get some time to recover from all the stress. Any chance that’s going to happen?
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All Canadian assets are for sale.
Exxon will continue to downsize till end of 2022, so does Imperial. Some will even let go before end of next year. May dept. started to fire employees from August in addition to this massive layoffs at Imperial. In addition, you have to continue to work with ton of loads. Unfortunately, greedy management won't reduce salary of everyone including themselves. They will fill their pocket by firing employees and sending work to overseas (BTC) for cheap and low quality works. They only want to fill their stomach with stocks and salaries, they don't give sh– to employees or Company's asset.
As terrible as it sounds, imagine there is another next year at some point. Unless there is a large market rebound, the HW3 stuff and TMTS is going to continue to downsize and outsource jobs.
Hopefully not. But anything can't happen if oil prices and market continue to remain weak.