Thread regarding Saudi Aramco layoffs

Rumor has it that global employees are not yacht-eligible but they get a battleship board game and a box of poker chips as a token of appreciation.

Watch those Americans. They might use their influence to buy a half billion dollar yacht to sail around on. Bad time for that really since there are only about 700-800 of those yachts left in the entire national treasury.

"Aramco a Saudi Company run by Americans, for Americans". Wrong....... Now is under Saudi Total control (Upper, medium & low management). Americans still have a certain amount of influence, but it will not last longer. I believe this layoff program is targeting US payroll. We will see from January - June a lot of forced good bye.

Aramco a Saudi Company run by Americans, for Americans and sod all others

I think this is only the start, once 2017 hits expect much more! the Saudis are starting to admit they cannot beat the beast that is US shale! The collapse of the monarchy that has kept itself propped up by petro dollars will soon be upon us! get out while you can!

@IF2wAWy-2dapr For Global a big fat zero ... US is a different story. They sit higher on the food chain.

Whats the layoff package?

@IF2wAWy-2disf is right, there will be a stampede out........!!!!

They know full well what would happen if they passed out the layoff benefit package and asked for vokunteers.

In response to IF2wAWy-2cjjp when did Aramco adopt sensible approaches to anything ?

Why don't they call for volunteers? Those that don't want to be here can leave and the rest can work with a little less anxiety. I would put my hand up, what's on offer Aramco?

I think the long painful convoluted exit process is completely bottlenecked.

There seem to be about 20-25 different steps each with multiple signoffs to exit. Between that and all of the other logistics I wouldn't be surprised to see a month or two of cease-fire before they start shelling the offices again.

Word is however that it this is nowhere near over so in a few weeks I believe we can expect another couple hundred which will probably continue through 2017 or until they reach whatever target the powers that be have set.

Its a good program and by all accounts a fair package so most people aren't all that worried. These things happen all over the world all the time and most people benefited from the experience of working here.

Any more layoffs last week - ?

You guys are hurting my self esteem. I'm going out and running some families off the highway so I can feel powerful and important again.

@IF2wAWy-29mlz Bring right is important when an expat can be "blamed" or "shown to be wrong". Two rules ... But they do apologise at the end of each month so that makes it acceptable.

"management are aided by expats who would rather agree, and do what is right for them rather than what is right for the company"

This is true, although not 100% fair. Because many expats (especially when they were new to the company) at some point tried to "do what's right" and rock the boat, but usually got knocked on the head pretty hard. Because "doing what's right" often means challenging somebody (thus making him look bad) or even challenging authority, or disturbing certain tribal connections -- all of which are unacceptable in this company. In this culture, being right is not as important as prestige/honor.

Yes that's the Saudi way. "We hate you for doing what we asked you to do because it's ruining our company"

I cannot summarize Aramco company culture any better than that IF2wAWy-28gll rail against expats who do exactly what the Saudi government, Saudi upper management, and Saudi middle management tell them to do.

Aramco is a government toy, whose management carry out their wishes, while middle and upper management are aided by expats who would rather agree, and do what is right for them rather than what is right for the company. Cash generation has masked the faults, while long serving expats did not want to rock the boat to miss out on their pay day. Unfortunately the current layoffs - whatever happened to the policy of communication, silent from management - reflect the mismanagement of the company and shunning commercialism - which to the long serving expats is a dirty word. The current IPO exercise is just a joke, (not to mention the millions spent, wasted, on self serving advisors), with management being told what they want to hear, with any changes earmarked for implementation after the float - investors will love suing the pants off Aramco and its advisors. If left to the professionals Aramco would flourish - but not with the current level of self-serving Saudi and expat management. The current advice given by expats to management on the IPO is naive, in that they think that a floated Aramco can do and say anything with no consequences.

@IF2wAWy-28qof GOLD

It's a layoff site. Saudi Aramco layoff program is not for Saudis. You guys go puzzle out that two trillion three trillion dollar math and let the grownups talk.

@@IF2wAWy-28feq Yes, I am. I hear constantly that low performers are being released when in fact what we are seeing does not support that. Just because you don't see it does not mean it is not happening. Why are people kidding themselves, Expats are being released and the criteria for selection is random at best, most likely based on personalities and cost.

@IF2wAWy-28meb . Are you basing your opinion on what you described "Our Division has Saudi employees that arrive at 8, leave at 9. Then return at 3 and leave at 3.30. Somehow they are still here while 2 Expat SMPs were released"? . I worked in aramco for 16y i never saw this kind of attitude from Saudis or ExPats.

@28hap I think we are saying the same thing ... There is good and bad on both sides; I think most of the comments here are from the few whom are happy to take anonymous pot shots.

@28-meb i did not exem Saudis from being low performers! Im saying the expat low performers are dead weight ( at least double the dead weight of a Saudi low performer). To be sure many expats are of great value to the company and they are not in a position of being redundant. It is eye opening to see the way some, not all, expats view "locals". Im old enough to realize that those who take this negative view are probably the ones who were offended by what i said earlier and for a good reason, they are the low performers. No chip on my shoulder, God knows we ("locals")struggle to make a living just like you do and face similar situations and wish no harm to expats as i am sure most of you know.

@IF2wAWy-28tlw, I'm not Saudi. Keep dreaming, this will make you smart. Just look at Aramco's JV's story.

@28nlj Our Division has Saudi employees that arrive at 8, leave at 9. Then return at 3 and leave at 3.30. Somehow they are still here while 2 Expat SMPs were released. Low performers you say, really?

@28nlj Sounds like one of those Saudi's with a chip on his shoulder.

I think @IF2wAWy-28tlw is one of the ppl being let go and he's a little bitter about it :) . Aramco is surplusing low performing employees (M/D) like @IF2wAWy-28tlw.....the low hanging fruits in order to cope with the current situation. Aramco is an internatiinal company, it will produce oil with the help ofmany nationalities (americans only one of them) and that is not a concern to the kingdom at the moment. Problem is that these low performers take it out on Aramco to justify their worth...what a nonesense

@28une Blunt but accurate. Reading your comment made my day ... or at least eased the pain slightly from another Sunday of halfwits.

My guess is the troll is one of those dreamers who really believes 5% of three trillion dollars equals a two trillion dollar trust fund as long as his world is free of expats.

Word

Hahahahahahahahahaha......the saudis who troll this site are funny.

http://www.bizjournals.com/houston/news/2016/11/21/another-houston-drilling-co-teams-up-with-saudi.html

Americans will still drill and produce oil for Saudi Arabia and Americans will still get paid to do it. The difference? Joint venture companies have no room for ten chattering and idle locals per working expat and no need for extra expats to help those idle locals look busy. The house being cleaned? It's yours. Now move on and sell fruit or mobile phones or Uber rides or whatever the labor ministry has deemed you qualified to do. Producing oil DEFINITELY is not on that list.

Aramco is cleaning the house. US & Canadian payroll is too expensive.

Definitely--know of at least three casualties in IT.

Any more layoffs last week?

Layoffs and inefficiency are far from the biggest risk Aramco and KSA face in he future. Continued low oil prices are a serious risk to the future economic stability of the KSA, a welfare state. Aside from improving economic diversity, the Kingdom will be forced to go through serious social and economic reforms in the future to maintain its high social standards if oil prices remain low for long. I hope they can weather the coming storms. The life blood of any country is revenue; the KSA currently needs $80/bbl oil to balance its budget. With world economic growth currently flat, OPEC and friends like Russia will need to cut production by 2-3 million bbls per day immediately to raise oil prices to this level, or wait for the world's economy to grow. In North America, shale oil production from the Bakken and Eagle Ford will quickly come on stream if oil prices rise to $80 per bbl to buffer price increases and decrease US imports. North America, including Mexico, is becoming internal focused for their energy needs with large proven conventional, heavy and shale oil reserves at hand. Conventional and shale oil production from Mexico will increase now that foreign companies are allowed to invest and own title to oil and gas reserves. President-Elect Trump has promised to give free rein to US oil and gas development in an attempt to make the US energy self sufficient. He plans to lower corporate taxes and remove barriers to increase pipeline infrastructure to lower transportation costs. These developments will decrease the need for foreign oil imports in the US and North America. The US currently consumes 19.8 MMbbls per day and is a net importer of 4.7 MMbbls per day. It imports 1.1 MMbbls per day from the KSA.

When the money runs out who will get there severance/pension???

It can only be set to get a lot worse in the new year, come the realisation that Saudi no longer holds the position of global swing producer, and must get used to 40 to 60 dollar oil when its welfare economy currently requires 95 dollars a barrel to balance the books.

Expat Tax, more Staff layoffs, Pay Cuts and Civil Unrest all to follow.

Still going on, mostly focusing on upstream tech services and/or upstream operations support or tech support staff. Few at a time.