Oil price is always been center of economy and it will be for many more years to come. Feeling happy from this chaos isn't humane behavior. Just saying.
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I don't know about joy of being laid off, but it is a relief as far as knowing its over. Now, I just have to dust myself off and move forward. Put this nonsense behind me and look for my next 20+ year career.
I totally dont agree with the last post. it is true that the industry is cyclic. however the cycle has shortened so bad. it is every 4-5 years now. but the problem is being laid off or someone is feeling joy other people are losing jobs. the major problems how the layoffs are taking place. when you see people with useless titles and no real value still have jobs and getting paid 200k while field and front line employees let go. then you feel upset. when our exec team get paid millions of bonuses when the company was losing money, you will be mad. When they cancel the profit sharing and the pip is at its lowest, and you hear some VP selling their shares 2 days prior to shares collapse, then you know you are working for a bad company. when our CEO going around the world taking selfies, then go home to lay off more people, then it is hypocrisy. tell me how many titles you come across who do nothing except giving presentations and trying to convince the employees that it is the new way to go. Most of them are the transformation managers which failed miserably to achieve any target. now it is digital transformation manager, or market value manager.
Oil is a cyclical industry. You have to plan accordingly - Financially and emotionally. Always has been, this isn’t new. Nor is this the first time. It will come back up again, it always does. You have to remind yourself of the industry you’re in, and the very real possibility that you may be let go of any day. If you can’t handle it, you need to start looking in other industries.
I think those that are celebrating are folks who don't know anyone in the oil patch. If you're living paycheck to paycheck and you have to drive any distance for commuting or Uber et.al. then a decrease in the price of gas goes directly to your wallet and would be a good thing.
No joke. I dont even work for slb and im constantly referring to this site as a benchmark to determine how bad the layoff situation is. Ppl keep griping about how bad the coronavirus is but the real threat of low oil prices lurks beyond. Meanwhile, ppl still celebrate low gas prices as a 'good' thing in the city of houston. Lame