I wonder, do they plan to ever stop with cuts or should we just get used to this being our new normal? Instead of a Monday morning coffee or a briefing, we get Monday morning layoffs. And Tuesday morning layoffs. And so on.
Yes, I'm angry and tired and just so over this whole mess.
I am a building “an oh here we go again emergency savings account.” I wish I had earlier. I suggest everyone else do that as well.
Oil and gas pays very well, but it’s obvious we all need a life jacket when riding these waves.
It will all come back around, but you may have to tread water for 18 months.
It will end when no one is left in North America Land. Good luck. Fortunately I will let go in 2016 after 32 years. Cheers.
To the OP, you must be new to the oil field/HAL. Layoffs have been going on at HAL since 2014 on a monthly basis. You should have got used to this as the new normal back in 2015. This is 2020. You are a little late to accepting that this has been the norm for quite some time buddy.
I agree with the above. I was long time halliburton Employee in past but long term contract right now and was not extended for May so out if work. You need to control the controllables by staying focused on delivery and just know the environment is not likely to improve for 2020. Stack up cash. Assess if you have options outside of o&g and actively determine your options. At least for me that is the attitude that has seen me through.
What is left in South Texas???
At least you have a job, yes it is not secured but stopped worrying about what will happen. Nothing you can change right now. How about an entire family that got laid off in oil and gas industry with two toddler kids and the house/cars on loan, no medical insurance.
It’s all perspective, at least you bring a paycheck right now. Be grateful.
They didn’t say on fixed personal cost .
On the quarterly earnings call, they said they plan to make $1B in cuts over the course of Q2 and Q3, mostly in fixed personnel costs. From other sources, I think that NAL is going to slow down on the cuts after another couple weeks, but I think sporadic bursts of layoffs will be the norm for the rest of 2020 unless the market makes a dramatic turn around.