Metrics, in comparison with competitors and the local Saudi Market, suggest a reduction of about 20k in workforce, with it being phased in over the year due to logistical pressure.
Advice - look after yourself and your family by planning for an exit especially if you survive this round.
Aramco families need to send their kids back home. No more expat principals in international schools. Anybody with kids from foreign countries outside of ksa will want to leave immediately because a Saudi principal will not have the experience or expertise to run the business of an international school that are based on american and british standards. Education now is no longer an incentive for expat families. Feel bad for anyone with kids aged 5 to 18.
In most cases, If you are approaching 60, or you are into an extension, a low M is almost sure. Then they will kick you out.
I cannot tell you how much I wanted to be laid off the last year I was there. The Company started to treat older employees very poorly. In good times, they placed a lot of value in the older worker. In bad times, you are mud. I had been through so many hiring and firings that I just lost motivation. Up until the last three years, I tried to keep up appearances and pretend it was a great place to work. In the end, I realized that I was “institutionalized.” I hope all the expats that are still there and those that were recently let go are okay.
People may be “downvoting “ this post because they are scared or a little skeptical of the high number. There is a precedent for such an event that occurred in the 1980s. What happened in the past may happen again.
Why are people downvoting this?
Also here is a recent Bloomberg opinion on Aramco finances given dividend commitments, sabic, and government commitments among other things.
https://www.bloomberg.com/opinion/articles/2020-06-28/saudi-aramco-s-dividend-math-doesn-t-add-up-considering-oil-price
I hope we are in the next round to go. I'm looking forward to going back to civilization. Lucky expats who were terminated!
If you look at what companies like bp, chevron and shell are doing 20,000 is not unreasonable.
The economy is definitely going through a rough patch but I don't believe this 20,000 number.
Ultimately, every department has a minimum number of employees required in order to sustain operations and that alone suggests this number to be inaccurate.