Are they going through same troubles as we are? Are we worse or better off?
3 replies (most recent on top)
I work at Exxon. I left Chevron 4 years ago. There will be major layoffs here. But the differences are stark. Chevron has no leadership. You guys and gals see it. Therefore the restructuring will be helter skelter. Exxon will use consultants to consult with...we would never hand the keys to a BCG and say ok do the report. You see it that everything is cloistered at the top with very little or no input from high middle level management that actually understand there teams. That is a disaster weighting to explode. BCG will use a org chart from professor Gulati. The org chart is not tweaked for work flow, culture, competencies. Your management team only gets a prefab org chart and then all hell breaks loose. I know of no business in oil and gas or any other industries that use consultants to do blindly run a report. You will first hand see the results of this. That's the differences between Chevron and the other majors imo.
All the service companies got obliterated early on from January through March and I'm still hearing of layoffs here and there on this site with SLB, HAL, Weatherford (they always get it first). Sizeable layoffs have been transitioning into the producers for months now (Apache, Conoco Phillips, Noble, - too many to name!). WPX, Linn, Pioneer, and Newfield have closed their Denver offices entirely and Apache is closing their Tulsa office next month (I hear that only about 1/2 or less of all these employees got to keep their jobs and relocate). I haven't heard any layoff news from Hess, Shell, or Exxon, but I'm sure they will be cutting as well as it's now only a matter of time. The oil work force at $50/bbl looks so much different than at $100/bbl. Just be thankful if you are able to keep your job or find another one if needed.
"In other words, it's a huge chit sandwich and we're all gonna have to take a bite." - Full Metal Jacket
All of the Oil Companies and Oil service companies will suffer equally. The ripple effect will affect the Houston economy eventually. Been there done that.