Hope y'all saved some Yuan!
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I know there were more than the provincial 50 layoffs to be stated in public, so why is it not published? Damn communists still running things where they shouldn’t be.
“Casualty” oh I don’t think so, I would say who ever is still there are the casualties, poor b–tards. How can people show up on a daily basis knowing it’s a downtown office but it’s actually the Cargill rendering plant. I guess you show up for a pay cheque but what a terrible life. I’d rather deliver milk than have that on my mind on a daily basis, awful environment.
i was a 2015 "causality"..... and was so happy to be escorted out the door with a nice parting gift. Gratitude to CNOOC for improving the value of my shares. On the downside, much of the team I was leaving behind was the most enjoyable I worked with in all my career, so from that perspective i was disappointed. But not having to spend another day in a cancerous environment with an incompetent C-suite was a delight. Seeing Quinn at the helm, I guess terds do float to the top.
For those that are happy to leave and get a prize for doing so, congratulations. I hope it works out for you as well as it did for me. For those that are apprehensive given the economic outlook, my heart goes out. Best of luck.
I see a lot of blame going around here with most of it being towards CNOOC. If it wasn't for CNOOC all those shares you had would have been worthless and company would have folded. Long Lake was a mess long before CNOOC made the mistake of paying that much for Nexen. LL management had a blank cheque to do what they wanted, never made any money yet everyone got bonuses, CNOOC had nothing to do with that. You buried yourself.
I was a 2016 casualty, got a great severance package and a new job where management appreciates the work I do. Good luck to those looking for work, there are jobs out there.
“CNOOC has been in layoff mode for a year” lets be honest it started on March 17th of 2015, it was called the St Paddies day m—acre and trust me I know, a year later March 1st of 2016 another m—acre and it just has continued weekly and that’s true. I’m not sure what the Chinese are hoping for with this obviously sideways experiment but they really should just throw the towel in and go back to Bohia , apparently they know what to do there in a climate more a custom to the culture!!!
CNOOC has been in layoff mode since a year go or more (for the reasons you know). This temporary crisis (Virus & OPEC+ fight) simply gives a perfect opportunity to its management to let people go in masses. There are lots of companies (i.e. WestJet) and small businesses that are laying off people but they will all go back to work after this Virus is gone, but unfortunately not with CNOOC. We know who these people will be replaced with.
Canadian companies should be taken over by other Canadian companies so that jobs could be retained mostly in Canada. With this take over, you see more and more control out of Beijing and more expats coming to Canada. Gradual reduction, layoffs. If Long Lake project was controlled/managed better, things could have been different . You now get virus imported in Canada and layoffs, horrible. At the end of the day they will have same number of people like PetroChina here most likely.
This feels like an end to the company. So sad. It seems like everything that has been done in the last ten years has been reactionary and not strategic. The writing has been on the wall since the new chairman came in. He does not seem to care one bit about Canada or its employees. When I started the company had 4,500 employees and many profitable Canadian operations. We are now down to ~500. So much worry and stress.
It’s obvious that CNOOC did a horrible job managing Nexen after the acquisition. But if you take a step back, you will realize that without that 15B capital injection back in 2013, Nexen would had never been able to survive until this very day. With CNOOC taking over all non-canadian assets from Nexen under its umbrella, It is natural that they do not need a cohort of 3000 people to look after a canadian asset with no upgrading facilities.
Nevertheless, layoff is always painful, especially in the time of uncertainty. Wish it turns out well for everyone who suffered through this round. Things will get better l, eventually.
It was a full blown m—acre yesterday. Entire teams were demolished. Sounds like it is not over yet either, more to come today.
“Humming” I believe that’s the joke my friend. I knew the day he came in there was going to be problems. Just as a point of interest 2 of their executive officers have resigned within the last month and neither of them were Asian, the only non Asian executive in whatever level of control is this guy and he’s not the guy, then or now. Way above his depth!!! I knew it 10 years ago. He’s waiting for a fat envelope and then go and demolish another company and unfortunately he will get that wish, which is not fair to the AP clerk who lost her job today.
All jokes aside CNOOC is still a workplace for a group of people and I wish them the best. I’m sure Quinn and the rest of management have a plan and will keep this company humming!
What did you expect! They did make an HR person CEO. The Chinese need to wake up!
When this is done perhaps vacate the Bow and setup shop in a couple of Atco trailers in the Foothills Industrial Park. What a mess the Chinese did with what was a fabulous company, tragic.
50% reduction in North America
40% of those from the US, 60% from Canada
Most of those will be from the Calgary head office. Best of luck to everyone impacted.
They are doing this all by VC, which makes it take much longer.
Well it is Tuesday and we know what happens on Tuesday!!!!!