Layoffs are happening sooner than expected. By the end of this month or beginning of September....
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management never gets cut, just staffers, it has always been that way. best bet is to work your way into management then kick back and let as many people go as need to so the numbers look good
$13 billion. That includes the Dave Stover and Ken Fisher purchase of Rosetta for $3.9 billion in stock and debt. So, Noble has lost more than half of its value in the last year.
Will future RIFs include the fat in HR, legal, security, finance, government affairs, SCM - or ANY member of senior management? Probably not. You have all those support staff, and the company still pays too many $2,000 and $3,000 and more per day support contractors. Contractors are mostly outside legal counsel, SCM, finance, and GAP.
A $13 billion dollar market cap and bleeding cash like crazy... and not a lot of cash on hand. Something has to give. Just wait until the end of the year when those hedges expire. Also consider $6.1 billion in long tern debt. They will be force to sell assets to survive. Maybe Wattenberg?
Although the times are difficult, the company is still a $13 billion dollar company that has regulatory and operating areas to maintain. The fact that people come on here and give there opinion on what's happening behind closed doors is ridiculous. Are there going to be future cuts? Sure, at the end it's still a business and sometimes you have to make difficult decisions. But not half the company....
The layoffs will be much bigger than anyone anticipates. Expect up to 1/2 the workforce to disappear. The company cannot continue as a going concern with oil at $45.
haha the end of this month IS the beginning of September