Why don't oil companies lay off workers? Are they smarter than service companies or just better businessmen?
8 replies (most recent on top)
We do, we just do it later after we have thrown all the contractors overboard and squeezed all our service providers for discounts.
Look at their P&L for compensation as % of total costs. Then compare to OFS- especially the service providers.
Eqpt manufacturers (like Cameron, Smith, Completions) carry some momentum from product orders, so they lay-off later
Oil companies have a lot of contractors, so they aren't laying off employees as much as letting contractors off. So they aren't going after the employee base as soon as the servicing companies have to.
They are. The companies that will survive this will swiftly implement reorg strategies. I prefer to know now and move ahead with my life than waiting for the ax to come down at any minute. Surviving out there is another matter. If you are prepared go for it.
Oxy is about to decimate staff....
Ummm...go look at Chevron, Shell and BP forums right here on thelayoff.com and then come back here and re-post.
Why don’t you go to thelayoff.com and check out oil companies on that site and see if they are laying people off. I’d try Marathon Oil for one.
And further more, oil companies don’t actually employ as many people as service companies do. Marathon Oil = 2000 or so employees. Halliburton = 50,000 employees
You have got to be kidding.
Sincerely,
Someone laid off from an oil company.