On top of layoffs, are they going to ask employees to take pay cuts?
5 replies (most recent on top)
Yeah, a pay cut to zero after you are walked out the door.
They'll save a good chunk not paying the location differential for Midland employees moved to Houston. Across the board cuts to base pay seem more difficult to pull off. I wouldn't be optimistic about the next bonuses though.
You don’t understand. They have a scoreboard to pay for, and need to create another business critical VP position (a la VP of employee engagement).
I can’t even bring myself to watch the droning on about how how “we’re positioning ourselves for a strong future” and “turning the corner”. There’s been so many turns we’ve gone in a circle.
Nope, going to be a gutting, but will be done in a creative way. Those in Permian better dump your house before the market floods. CHV, OXY, multiple smalls starting the silent layoffs or "mandatory transfer to other places" as well. Get in the "program" or hope you fudged your age or you're in trouble. Not smart, but all decisions made off budget dollars alone.
Good luck everyone, I think 19 might end on a sour note for us oilfield trash.
probably