Energy Industry Layoffs and Strikes (Houston, Howe: calculator, wages, live in)

[ethanw]

Sounds like Chevron to me :-)

Originally Posted by smuggy_mba

Somebody higher up says - cut 20% off your yearly budget and make it happen by XYZ Month/Day. Then the people who are well "networked" with the management survive (along with a few hard working but less networked) and the others are let go..simple.

My friend was let go last week from a major O&G services provider along with 6 other, the 2 who left were the one's who were friends with the manager. This week they hired a contractor to help them on the project (with same skill as two of the 6 people who were let go). It's how it works.

[Memorialite]

Noble today announced to employees there will be more layoffs mid-November.

[Shark01]

I cannot believe the mid 80s were any worse than the current O&G industry

[pkflyers]

Noble Energy? Didn't they just move their headquarters and build that beautiful new building? Hate to hear that...

[Memorialite]

Yes, Noble Energy. The one earlier this year was the first round on the history of the company, that I know of.

[bazookabang]

This was to be expected from Noble given they just bought Rosetta back in May.

[haudi]

Chevron will lay off thousands more workers, slash spending - Fuel Fix

The planned job cuts include the 1,500 jobs already slashed this year, including 950 in Houston, spokesman Cam Van Ast said. With crude and natural gas prices showing no signs of rebounding soon, Chevron said it expects to reduce its workforce by 6,000 to 7,000.

Jeebus.

[curbur]

Originally Posted by haudi

Chevron will lay off thousands more workers, slash spending - Fuel Fix

Jeebus.

6,000-7,000 is 1/10th of their entire workforce :/. It really sucks for the city's growth and prosperity, but I guess everyone knew the oil industry works this way, or they do now if they didn't lol. Sometimes I get jealous being in tech and seeing some of my mid 20's counterparts making well 120k+ out of school, which is a salary I'll have to claw my way to over a decade or more, but there's something to be said about job security and industry stability I suppose.

[jeremy2788]

Originally Posted by curbur

6,000-7,000 is 1/10th of their entire workforce :/. It really sucks for the city's growth and prosperity, but I guess everyone knew the oil industry works this way, or they do now if they didn't lol. Sometimes I get jealous being in tech and seeing some of my mid 20's counterparts making well 120k+ out of school, which is a salary I'll have to claw my way to over a decade or more, but there's something to be said about job security and industry stability I suppose.

While it is nice to make O&G money while things are good, if individuals do not know the cyclical nature of the industry, they can definitely find themselves in a very deep hole if they find themselves out of work. It is hard to change your lifestyle when you were used to making over 100k.

[lipbalm]

Originally Posted by jeremy2788

While it is nice to make O&G money while things are good, if individuals do not know the cyclical nature of the industry, they can definitely find themselves in a very deep hole if they find themselves out of work. It is hard to change your lifestyle when you were used to making over 100k.

How many fresh outs were actually making over 100k? I keep hearing this over and over but where is the data to support this claim? Never seen a statistic on this.